My Solo 401k Financial ROBS Review: Fees, Services, and Fit

My Solo publishes one of the clearer public ROBS fee schedules: a $3,000 setup fee that includes the first year of annual support, followed by $899 per year starting 12 months later for the first 10 participants and $75 per additional participant.^[7] Under those public assumptions, the first-year example is $3,000 and the three-year example is $4,798 before omitted or contract-specific costs.

The service list is also specific. My Solo says the setup fee includes C corporation formation, state registration fees, bylaws, 401k/PSP establishment, plan and corporation EINs, bank-account setup at the client's chosen bank, a Fidelity brokerage account for the plan, transfer-form preparation, and an audit guarantee.^[7] Its annual support list includes Form 5500 preparation, Form 1099-R reporting, annual routine corporation valuation for Form 5500 preparation, mandatory amendments, participant additions, participant-statement review, contribution and vesting monitoring, contribution computation, nondiscrimination testing, and top-heavy/additions/coverage support.^[7]

IRS and DOL sources limit what a provider setup and service list can establish: they flag ROBS filing failures, valuation issues, employee access, promoter-fee questions, prohibited transactions, and fiduciary duties.^[1][2][4][5] My Solo may be a good provider to interview if low, published recurring cost matters. It should not be treated as approved, safest, or suitable until an attorney, CPA, valuation professional, lender if applicable, and plan administrator review the facts and documents.

These terms define the structure, plan duties, and documentation issues that matter before comparing published provider fees.

My Solo's public fee schedule and service claims are most useful when matched to a buyer's need for price visibility, contract scope, employee-plan administration, and independent professional review.

My Solo describes 401k Business Financing, also known as ROBS 401k, as a way to fund a business with retirement funds without taking a taxable distribution and says it is not a loan.^[6] The IRS description is more precise: a prospective owner establishes a new C corporation, the corporation sponsors a qualified plan, eligible retirement assets move into that plan by rollover or trustee-to-trustee transfer, and the plan buys employer stock in the corporation.^[1][2]

The tax distinction is the rollover path: a ROBS can generally avoid immediate distribution tax and the 10% early-distribution penalty when eligible assets move to the new plan rather than to the individual as a personal distribution. But IRS rollover rules still limit which assets can move, whether the old plan permits a distribution, what happens with RMDs, hardship distributions, plan loans, withholding, and whether the receiving plan accepts the rollover.^[3]

My Solo says it never holds client money, helps with transfer forms, and typically sets up the plan account at a brokerage such as Fidelity.^[6][7][9] The owner remains responsible for records that keep corporate funds, plan assets, payroll, participant records, stock documents, and tax filings separated and documented.

The public pricing page states a $3,000 setup fee, including free first-year annual support and the first 12 months of ongoing compliance support; a $899 annual fee starting 12 months later; first 10 participants included in that annual fee; and $75 per additional participant per year.^[7]

Those examples are illustrations, not a quote. The contract should say whether fees are paid by the corporation or the individual, when billing starts, whether there are partial-year charges, and whether cancellation or refund rights change once setup work begins.

On setup, My Solo lists C corporation formation with state registration fees and bylaws, 401k/PSP setup with an IRS determination-letter statement, EINs for the plan and corporation, corporation bank-account setup at the client's chosen bank, a Fidelity brokerage account for the plan, transfer forms, and an audit guarantee.^[7] IRS materials caution that a favorable determination letter addresses plan terms, not whether the plan is operated correctly or without prohibited discrimination or prohibited transactions.^[1]

On annual support, My Solo lists Form 5500 preparation, Form 1099-R reporting, routine annual corporation valuation for Form 5500 preparation, mandatory amendments, employee additions, participant-statement review, contribution and vesting monitoring, contribution computation, annual nondiscrimination testing, and annual top-heavy/additions/coverage support.^[7] DOL materials still place fiduciary responsibility on plan fiduciaries to prudently select and monitor service providers, understand direct and indirect compensation, follow plan documents, provide participant information, and keep a fiduciary in place through termination.^[4]

My Solo's valuation page says an initial valuation is needed for existing-business recapitalization, annual valuation supports Form 5500 reporting, and one-time valuations can be needed for additional investment, stock buyback, and distributions including RMDs.^[8] IRS materials identify stock valuation as a ROBS examination issue and describe deficient appraisals in examined plans.^[1][2] Ask whether the annual routine valuation is independent appraisal work, internal support for reporting, or a narrower estimate.

My Solo's guide says clients work with owners and an attorney or compliance professionals and discusses SBA-related help.^[11] Treat those as provider-reported service claims. If the transaction depends on SBA financing, franchisor approval, an acquisition closing, or a lender checklist, the engagement agreement should identify exactly which documents My Solo prepares and which remain with the buyer, lender, CPA, attorney, or valuation professional.

The main risks are investment concentration, plan administration, valuation support, employee access, filing accuracy, and exit execution. The plan exchanges diversified retirement assets for stock in one private company. If the business loses value, the retirement account can lose value too. IRS project findings describe many examined ROBS businesses failing or moving toward failure, with bankruptcies, liens, dissolutions, and depleted retirement savings in some cases.^[1]

The public pages checked did not publish complete current quote terms, cancellation and refund procedures, termination fees, exit fees, complete pass-through costs, correction-cost handling, tax or penalty responsibility, DOL examination scope, owner-error exclusions, missing-record exclusions, or a full stock-redemption workflow. They also do not prove that the published valuation support will be enough for an acquisition, stock buyback, additional investment, business sale, insolvency, RMD, or participant distribution.

Professional review remains necessary before a reader acts. A business attorney should review entity and transaction documents, an ERISA or benefits professional should review plan obligations, a CPA should review tax and payroll consequences, a valuation professional should review stock value where facts require it, a lender should review SBA or other financing conditions, and the plan administrator should confirm participant and filing obligations. This page does not provide individualized legal, tax, fiduciary, valuation, investment, or financing advice.

My Solo has two provider-published sources relevant to referral fees. Its no-referral-fee page says its policy is not to pay referral fees to franchise promoters or other business brokers in connection with its 401k small business financing retirement arrangement.^[10] Its provider-selection guide says referral fees to brokers can be common, that My Solo has never paid and has a policy against paying such fees, and that first-year ongoing compliance support is included within the initial fee.^[11]

That evidence is useful but narrow. It supports the statement that My Solo publicly says it does not pay those referral fees. It does not prove that the provider is best, safest, free of every commercial incentive, suitable for a specific buyer, or superior in service quality. 401kROBS.com may receive referral or advertising compensation from some providers; compensation is not a reason to inflate claims, omit limiting facts, alter methodology, or recommend a provider without evidence.

Use these as contract questions, not as a visible scorecard. The goal is to make every provider answer the same practical points in writing.

• Is the current written quote still $3,000 for setup and $899 annually after the first 12 months, and does any invoice, promotion, state, acquisition, employee, lender, correction, or valuation fact change that price?
• When is each payment due, what deposit is required, and what refund or cancellation rights remain after corporation, plan, transfer, or employer-stock-purchase work begins?
• Which costs are excluded: registered-agent renewal, state annual reports, franchise taxes, business licenses, payroll, bookkeeping, corporate tax preparation, fidelity-bond premiums, brokerage transaction fees, legal/accounting advice, lender work, correction filings, penalties, and exit work?
• Who signs and files Form 5500, who handles EFAST2 submission, and whether Form 1099-R, Form 945, Form 8955-SSA, late filings, amended filings, and penalty-abatement work are included?
• What exactly is the annual routine corporation valuation, who prepares it, when is the $495 report or an outside appraisal required, and what valuation work is needed for a stock buyback, distribution, sale, or additional investment?
• What does the audit guarantee cover for IRS and DOL matters, who chooses outside counsel, and are owner errors, missing records, taxes, penalties, correction contributions, valuation disputes, or business losses excluded?
• How are participant obligations handled when employees become eligible, including notices, summary plan descriptions, enrollment, brokerage accounts, participant statements, contribution timing, nondiscrimination testing, top-heavy testing, and cybersecurity practices?
• What happens if the business fails, sells assets, redeems stock, takes on a partner, merges, converts entity type, loses SBA financing, or terminates the retirement plan?

These answers summarize the public-page evidence and the limits that should be confirmed in writing before relying on any provider comparison.

Provider pages support what My Solo says it offers, charges, and states about referral fees. IRS and DOL sources support the legal, rollover, fiduciary, filing, employee-access, prohibited-transaction, and valuation context. None of these sources proves individualized suitability, final quote terms, tax treatment, lender approval, compliance in operation, service quality, audit outcome, or business success.

1. [1] IRS: Rollovers as Business Start-Ups Compliance Project

   IRS page explaining that ROBS uses retirement funds to buy stock of a new C corporation business and identifying determination-letter limits, Form 5500/Form 1120 filing failures, valuation issues, employee-access concerns, promoter fees, and project findings. Page last reviewed or updated November 16, 2025. Accessed July 30, 2026.

2. [2] IRS: ROBS Examination Guidelines

   IRS Employee Plans memorandum dated October 1, 2008 describing the typical C corporation, qualified plan, rollover or trustee-to-trustee transfer, employer-stock purchase, nondiscrimination, prohibited-transaction, employer-stock availability, promoter-fee, and valuation examination issues. Accessed July 30, 2026.

3. [3] IRS: Rollovers of Retirement Plan and IRA Distributions

   IRS rollover page explaining direct rollovers, trustee-to-trustee transfers, 60-day rollovers, eligible rollover distributions, withholding, RMD and hardship limits, plan distribution conditions, and plan acceptance rules. Page last reviewed or updated May 31, 2026. Accessed July 30, 2026.

4. [4] DOL EBSA: Meeting Your Fiduciary Responsibilities

   DOL publication dated September 2021 explaining written plan documents, trusts, recordkeeping, participant documents, fiduciary status, prudence, exclusive-benefit duties, service-provider selection and monitoring, fees, Form 5500 reporting, prohibited transactions, employer stock, fidelity bonds, disclosures, correction programs, and plan termination duties. Accessed July 30, 2026.

5. [5] DOL EBSA: Form 5500 Series

   DOL page stating that DOL, IRS, and PBGC jointly developed the Form 5500 Series for annual employee-benefit-plan reporting and that Form 5500 and Form 5500-SF filings must be completed and filed electronically through EFAST2-approved software or IFILE. Accessed July 30, 2026.

6. [6] My Solo 401k Financial: 401k Business Financing

   Provider page with canonical URL and 2024-06-13 modified metadata. It describes 401k Business Financing, also known as ROBS 401k, as business funding with retirement funds without taking a taxable distribution; says it is not a loan; lists eligible account examples; says My Solo never holds client money; and links process, pricing, FAQ, valuation, SBA, Form 5500, and exit resources. Accessed July 30, 2026.

7. [7] My Solo 401k Financial: 401k Business Financing Pricing

   Provider pricing page with canonical URL and 2024-06-13 modified metadata. It states a $3,000 setup fee including free first-year annual support, first 12 months of ongoing compliance support, $899 per year starting 12 months later for the first 10 participants, $75 per additional participant, setup inclusions, audit guarantee, Form 5500 preparation, Form 1099-R reporting, annual routine corporation valuation for Form 5500 preparation, amendments, participant-statement review, contribution and vesting monitoring, contribution computation, nondiscrimination testing, and top-heavy/additions/coverage support. Accessed July 30, 2026.

8. [8] My Solo 401k Financial: ROBS Valuations

   Provider valuation page with canonical URL and 2024-06-13 modified metadata. It states valuations are needed for existing-business recapitalization, annual Form 5500 reporting, additional investment, stock buyback, and distributions including RMDs; it says valuation should be prepared systematically and consistently by a provider with experience and lists a $495 valuation report service that is free for new clients. Accessed July 30, 2026.

9. [9] My Solo 401k Financial: 401k Business Financing FAQ

   Provider FAQ with canonical URL and 2024-06-13 modified metadata. It states the provider never holds client money and includes C corporation, rollover, employee, annual appraisal, Form 5500, salary, in-service transfer, participant-loan, and no-referral-fee answers. Accessed July 30, 2026.

10. [10] My Solo 401k Financial: No Referral Fees Paid to ROBS Promoters

    Provider page with canonical URL and 2014-10-21 modified metadata. It states My Solo 401k Financial's policy is not to pay referral fees to franchise promoters or other business brokers in connection with its 401k small business financing retirement arrangement. Accessed July 30, 2026.

11. [11] My Solo 401k Financial: Guide for Choosing the Right ROBS Provider

    Provider guide with canonical URL and 2023-12-16 modified metadata. It says My Solo 401k Financial has never paid and has a policy against paying referral fees, includes first-year ongoing compliance support within the initial fee, says clients work with owners and an attorney or compliance professionals, discusses SBA support, and contains promotional experience and audit-success claims treated here as provider-reported only. Accessed July 30, 2026.