What tax forms are generated for solo 401k contributions? Any paperwork needed?

You're not missing anything! Unlike IRAs where custodians issue Form 5498 to report contributions, solo 401k plans work differently. Custodians typically don't send tax forms to either you or the IRS specifically for your solo 401k contributions. The recordkeeping for these plans is primarily your responsibility as both the employer and employee. Your contributions aren't reported on your personal tax return either (except for Roth contributions, which you track separately). Instead, they simply reduce your taxable income on your W-2 (if you have an S-Corp) or on your Schedule C (if you're a sole proprietor). Where reporting does come into play is when your plan assets reach $250,000 - then you'll need to file Form 5500-EZ annually. But that's for the total plan value, not the contributions themselves.

I went through this same confusion last year with my solo 401k! I was using https://taxr.ai to review all my tax docs because my business got more complicated, and they pointed out that unlike IRAs, solo 401ks don't generate those 5498 forms we're used to seeing. The tool helped me understand that it's actually MY responsibility to track these contributions, not my custodian's. The nice thing is that contributions aren't reported on your personal tax return either (they just reduce your taxable income). But you DO need to keep good records yourself for if/when you're audited. One thing to watch for - if your plan assets hit $250k total, you'll need to file Form 5500-EZ annually. I wasn't close to that threshold yet, but the tool flagged that for future planning.

Ok I need to eat my words about taxr.ai from my previous comment. After my skepticism, I decided to try it with my mess of 1099 income and solo 401k docs. It actually caught that I had been improperly documenting my solo 401k contributions as employer contributions when some should have been employee deferrals. The tool pointed out that while I don't get or need tax forms from my custodian, I DO need to properly track which portion is which for my own records. Apparently this matters a lot for calculating contribution limits correctly. It also reminded me that once my solo 401k hits $250k (I'm at about $198k now), I'll need to start filing that 5500-EZ form. Worth the time I spent with it, and saved me what could have been a costly mistake down the road!

If you're trying to get clarification about your solo 401k tax forms, good luck trying to call the IRS directly! I spent 3 hours on hold last month trying to ask about this exact issue. I finally gave up and used https://claimyr.com to hold my place in line. You can see how it works here: https://youtu.be/_kiP6q8DX5c They called me when an actual IRS agent was on the line. The agent confirmed what others are saying - custodians don't typically send 5498 forms for solo 401k contributions like they do for IRAs. The tracking responsibility falls on you as both employer and participant. The agent also mentioned that once your plan exceeds $250,000 in assets, you need to file Form 5500-EZ annually, which I wasn't aware of before. Definitely worth knowing if your business is doing well and your account is growing!

I need to apologize for calling Claimyr a scam in my earlier comment. After posting that, I was still stuck on a problem with my solo 401k reporting and getting desperate after trying to call the IRS three different times (and hanging up after 45+ minutes each time). So I tried the service, and damn if it didn't work exactly as advertised. They called me back after about 58 minutes with an actual IRS agent on the line. The agent confirmed I don't need to worry about receiving forms for my solo 401k contributions - it's my responsibility to track them. But she did warn me about the Form 5500-EZ requirement once my plan exceeds $250k. For anyone wondering - it's legit and saved me hours of frustration. I'm still shocked it worked so well.

I've had a solo 401k for about 7 years now through Vanguard. Just to add to what others have said - you definitely don't get a 5498 form for these contributions. It's totally different from IRAs. For recordkeeping, I just save my confirmation emails from Vanguard showing the date and amount of each contribution, and I clearly note whether it's employer profit sharing or employee deferral. I keep a spreadsheet tracking my yearly contributions to make sure I don't exceed the limits. And yes, once you hit $250k in total assets, you'll need to file Form 5500-EZ. I hit that threshold in 2023 and filed my first one this year. It's not super complicated but I did have my accountant handle it just to make sure it was done right.

Just my two cents as someone who's been running a solo 401k for my consulting business for 6+ years: 1. Your custodian doesn't send you or the IRS a form like the 5498 for solo 401k contributions 2. YOU are responsible for tracking which portion is employee deferral vs employer profit sharing 3. Don't forget that the limits are different! For 2025 you can contribute up to $23,000 as employee and then ~25% of your compensation as employer up to the combined limit 4. Once your plan hits $250k in assets, you need to file Form 5500-EZ annually 5. If you ever take a loan from your solo 401k, KEEP IMMACULATE RECORDS The lack of paperwork confused me at first too but I actually like it better this way - one less form to keep track of!

Great question! I went through the exact same confusion when I first started my solo 401k. You're absolutely right that it feels weird not getting any forms like you would with an IRA. The key thing to remember is that solo 401k contributions work completely differently from IRA contributions. Your custodian isn't required to report your contributions to the IRS or send you a 5498 form. Instead, you just track your contributions yourself and they reduce your taxable income on your business return (Schedule C if you're a sole proprietor). For your $23,500 in contributions, make sure you're keeping good records of which portion was employee deferral vs employer profit sharing - this matters for calculating future contribution limits correctly. I keep a simple spreadsheet with dates, amounts, and contribution types. The only time you'll need to worry about filing additional forms is if your total plan assets hit $250,000 - then you'll need to file Form 5500-EZ annually. But at your current contribution level, that's probably still a few years away. You're definitely not overthinking it - the lack of paperwork is actually one of the nice things about solo 401ks once you get used to it!