My Solo 401k vs Tenet Financial: ROBS Provider Comparison

For the base My Solo scenario, the reproducible first-year cost is $3,000 because the provider says the setup fee includes the first 12 months of ongoing compliance support. The three-year calculation is $3,000 + ($899 × 2) = $4,798 for the first 10 participants. That excludes the $75 charge for each additional participant after the first 10 and any professional costs outside the provider’s published fee list.^[3]

Tenet’s checked pages do not publish a complete setup fee, recurring administration fee, billing cadence, participant-charge schedule, valuation fee, pass-through list, or exit fee. That means Tenet’s first-year and three-year totals remain unknown, not zero. A fair comparison requires asking Tenet for a written quote with every recurring and event-based charge listed before treating price as a decision factor.^[7][8]

Both providers describe the core ROBS setup sequence. My Solo says its process involves forming a new C corporation, adopting a 401k business financing plan, obtaining EINs for the corporation and plan, setting up a corporation bank account and a 401k brokerage account, transferring eligible retirement assets into the plan, wiring funds from the plan to the corporation, and issuing stock certificates.^[3][4]

Tenet describes four critical ROBS steps that include establishing a C corporation and a 401(k) plan. It also explains that retirement funds roll into the new plan and the plan invests in, or buys stock in, the new company.^[7] The checked Tenet pages do not specify who obtains EINs, opens bank or trust accounts, opens brokerage or custody accounts, prepares stock certificates, or maintains the closing file. Those are written-scope questions, not assumptions to fill in from general ROBS practice.

Ownership and custody should be kept distinct: the C corporation receives capital, the retirement plan receives employer stock, and the owner may control the corporation but does not personally receive a taxable distribution when the transaction is executed as a qualifying rollover. The IRS still focuses on rollover records, stock purchases, valuation, participant information, and annual filings.^[1]

My Solo’s annual support list includes Form 5500 preparation, participant additions, 1099-R reporting, annual routine corporation valuation for Form 5500, mandatory amendments, participant-statement review, contribution and vesting monitoring, contribution calculations, nondiscrimination testing, top-heavy testing, additions, and coverage.^[3] That makes My Solo more transparent about routine administration categories and recurring cost.

Tenet states that employees can participate in the ROBS 401(k) plan, that the plan document will outline employee eligibility, and that a Tenet administrator helps track eligibility and contributions. Tenet also says it helps file the annual Form 5500 for the ROBS 401(k) plan, while the business owner should hire a CPA for the C corporation’s Form 1120 tax return.^[7] Form 5500 is the retirement-plan filing; Form 1120 is the corporation’s income-tax return, and Tenet assigns those roles to Tenet and the CPA respectively on its public page.

Neither checked provider source answers every employee-plan question. Before hiring either provider, ask who prepares required participant notices, who signs filings, who tracks hours and eligibility data, how employee deferrals are coordinated with payroll, whether participant accounts and statements are handled by the provider or another recordkeeper, and what happens if an employee becomes eligible sooner than expected.

Valuation is clearer on the My Solo side. My Solo says an existing-business recapitalization requires an initial valuation, company-stock value must be disclosed on the annual Form 5500, and one-time valuations may be needed for additional investment, stock buyback, and distributions including required minimum distributions. It lists a valuation report service at $495 and says it is free for new clients.^[5] Tenet’s checked pages do not state employer-stock valuation support, annual valuation workflow, or valuation pricing.

My Solo also publishes audit-support language, but it is bounded. The guarantee applies only if customers follow My Solo’s procedures and requirements. It includes assistance responding to an IRS or DOL plan audit and reasonable legal counsel in tax court only if the IRS or DOL alleges that the retirement plan’s initial investment in company stock is a prohibited transaction. The page says terms and conditions are available upon request.^[6] That is not a blanket promise to cover every audit, penalty, legal fee, valuation dispute, operational failure, or tax issue.

Tenet publishes a different boundary: it states that it does not provide tax, legal, or investment advice and that decisions in those areas should be made with professional advisors.^[7][8] My Solo’s checked pages do not provide the same broad scope disclaimer on the reviewed pages, but written engagement terms still control legal, tax, fiduciary, correction, valuation, and exit responsibilities for both providers.

No fit statement replaces contract review. A lower known price can be attractive, but it does not prove stronger administration. A broader public description can be useful, but it does not replace price disclosure. The better choice depends on the written service schedule, contract limits, participant count, exit plan, professional team, and the owner’s ability to maintain both the corporation and the retirement plan.

Tenet is the clearer source for sale and dissolution language. It says that when the time comes to dissolve the corporation or sell the business, the corporation reimburses shareholders, including the 401(k) plan, and a Tenet administrator walks the client through the step-by-step process to stay in line with IRS rules and regulations.^[7] That is useful, but it does not answer who performs the final valuation, drafts redemption documents, coordinates legal approval, prepares final filings, or bills for exit work.

Tenet’s partner page shows relationships with franchisors, consultants, brokers, funding partners, CPAs, and other professionals. It also displays franchises Tenet says it has funded.^[8] Treat that as referral and coordination context only. It is not evidence that Tenet guarantees financing, provides lender packaging at no extra cost, controls franchisor approval, or provides tax, legal, or investment advice.

My Solo’s checked sources include process, pricing, valuation, annual support, and guarantee language, but they do not define a complete sale, dissolution, plan termination, final redemption, or cancellation/refund workflow. Readers considering My Solo should ask for those terms in writing before relying on the provider for an exit plan.

• What is the complete setup fee, annual or monthly administration fee, billing date, renewal term, pass-through schedule, participant charge, valuation charge, amendment charge, correction charge, and exit or termination charge?
• Who forms the C corporation, obtains the corporation EIN and plan EIN, opens the corporation bank account, opens the plan trust or brokerage account, prepares transfer forms, prepares stock documents, and maintains the closing record?
• Who holds retirement-plan assets before and after the employer-stock purchase, and what bank, brokerage, custodian, trustee, or recordkeeper agreements must be signed?
• What employee data must the company provide, who tracks eligibility, who handles deferrals and employer contributions with payroll, who prepares notices, and who signs participant communications?
• Who prepares Form 5500, who coordinates Form 1099-R, who performs nondiscrimination and top-heavy testing, and which duties remain with the owner, CPA, payroll provider, or attorney?
• What valuation is included at formation, annually, after a material event, for a stock buyback, for a distribution, and at sale or dissolution?
• What audit assistance is included, what is excluded, what triggers extra fees, whether legal counsel is included, and whether any guarantee has written conditions, caps, venues, or exclusions?
• What happens if the business is sold, fails, adds investors, changes entity status, admits new partners, redeems plan-held stock, or terminates the plan?
• What records can be exported if you leave the provider, in what format, and how quickly?
• Does the provider receive referral compensation from lenders, franchisors, brokers, custodians, valuation firms, or other professionals involved in the transaction?

Sources were accessed on July 31, 2026. Provider pages establish what each provider says publicly; they do not prove service quality, legal compliance in every case, or suitability for a specific buyer.

1. 1. IRS ROBS compliance project

   Official source accessed July 31, 2026: the IRS describes a ROBS arrangement as using rollover assets to purchase stock of a new C corporation and identifies recurring compliance issues involving plan status, contributions, rollovers or direct transfers, participant information, stock valuation and purchases, Form 5500 or 5500-EZ, and Form 1120. The IRS also says a determination letter does not protect a sponsor from operational failures, discriminatory operation, or prohibited transactions.

2. 2. DOL retirement plan fees

   Official source accessed July 31, 2026: ERISA fiduciaries must prudently select and monitor plan service providers, confirm services are necessary and costs are reasonable, understand bundled and unbundled fees, identify service-provider compensation, consider participant information and cybersecurity practices, and continue monitoring after selection.

3. 3. My Solo 401k pricing

   Provider-controlled source accessed July 31, 2026: My Solo 401k publishes a $3,000 setup fee including first-year annual support. It says the initial fee covers corporation formation, establishing the 401k/PSP, transfers from IRAs and former employer plans, and the first 12 months of ongoing compliance support. Starting 12 months later, it charges $899 annually for the first 10 participants, plus $75 per additional participant. The setup list includes C corporation formation, plan setup, EINs, corporation bank account, brokerage account, transfer forms, and an audit guarantee. The annual support list includes Form 5500 preparation, participant additions, 1099-R reporting, routine corporation valuation for Form 5500, mandatory amendments, participant-statement review, contribution and vesting monitoring, contribution calculations, nondiscrimination testing, top-heavy testing, additions, and coverage.

4. 4. My Solo 401k process

   Provider-controlled source accessed July 31, 2026: My Solo 401k says an attorney and compliance officer are involved from beginning to launch. The listed process includes explaining rules, forming a new C corporation, adopting a 401k business financing plan, obtaining EINs for the corporation and plan, setting up a 401k brokerage account and corporation bank account, transferring eligible retirement funds, wiring plan funds to the corporation bank account, issuing stock certificates, and preparing corporation documents.

5. 5. My Solo 401k valuations

   Provider-controlled source accessed July 31, 2026: My Solo 401k says an existing-business recapitalization needs an initial valuation, the company-stock value must be disclosed on the annual Form 5500 filing, one-time valuations may be needed for additional investment, stock buyback, and distributions including RMDs, and a valuation report service is listed at $495 and free for new clients.

6. 6. My Solo 401k guarantee

   Provider-controlled source accessed July 31, 2026: My Solo 401k says its guarantee is provided at no additional cost as long as customers follow its procedures and requirements. The page lists assistance with responding to an IRS or DOL plan audit and reasonable legal counsel to represent the customer in tax court if the IRS or DOL alleges that the retirement plan's initial investment in company stock is a prohibited transaction. Terms and conditions are available upon request.

7. 7. Tenet Financial Group ROBS Funding

   Provider-controlled source accessed July 31, 2026: Tenet describes itself as a Third-Party Administrator specializing in ROBS plan design, installation, and administration. It says typical funding is 4-5 weeks, identifies the establishment of a C corporation and 401(k) plan, says employees can participate, says the administrator helps track eligibility and contributions, says Tenet helps file annual Form 5500 while the CPA handles Form 1120, says an assigned administrator is available for eligibility tracking, contributions, IRS filing requirements, and additional consulting, and says the administrator walks through dissolution or sale. Tenet says it does not provide tax, legal, or investment advice.

8. 8. Tenet Financial Group Partners

   Provider-controlled source accessed July 31, 2026: Tenet says it partners with franchisors, consultants, brokers, funding partners, CPAs, and professionals, and that collaborative partnerships cover financing and business startup processes. The page displays franchises Tenet says it has funded. Partner and referral language does not prove direct lender-packaging duties, loan approval, included financing, or provider-paid partner services.