Guide to Opening Fidelity 401(k) Plan Online
First it would be helpful if you understand what 401(k) plan is; this is retirement plan sponsored by employers of both large and small companies for their employees. The 401(k) plan has grown tremendously popular, because it allows employees to make contributions towards their retirement without having to pay taxes for it as it is usually the norm. For those who are self-employed or are running a small business, the process of accessing the 401(k) plan is easy and paperless. You can easily register through the Fidelity website.
The following are the steps you should follow when you want to open a Fidelity 401(k) plan and thus have a 401(k) fidelity login user account:
• Once you are on the Fidelity website, you should click on the “Open An Account” tab. This will be the initial stage of opening 401 fidelity account.
• Next go to the “Open Now” option, this will in effect direct you to 401(k) fidelity login. Although Fidelity will give you a clear explanation on which type of account to open, however if you feel you need more help to choose which type of account you want. Click on the “Help Me With my Selection” option.
• Scroll down the lists of accounts options and select the “Self Employed 401(k) plan”. This option is suitable for small business owners who basically have a staff consisting of themselves and perhaps their spouse. To proceed with registering the fidelity net benefits login, first download the “Self-Employed 401(k) Enrollment Kit”.
• After downloading the kit, the print it out to hardcopy, and then read through it. After understanding the terms and conditions fully pertaining to the netbenefits fidelity login, you then should sign the “Adoption Agreement”. This effectively makes you adopt the Self-Employed 401(k) plan. Then process to completing the rest of the 401(k) Account Application requirement. Then mail the filled and signed document to the address which is provided by Fidelity.
• After successfully complying with all the above, you can now start contributing to the Self-Employed 401(k) plan. You do this by mailing Fidelity a check alongside the “Fidelity’s 401(k) Contribution Remittance Form. You should note that IRS has set the maximum amount which you can contribute towards the 401(k) annually. For more details on the current set limits, you should visit the IRS site.
When you are opening a 401(k) plan for a big business, you must contact Fidelity by calling them directly through the number displayed in their site. This is because the rules and regulations for a large 401(k) plan are quite different to that of a Self-Employed 401(k) plan. Once you’ve given them a call, one of the Fidelity Retirement Specialist will help guide you through steps for opening up a large business 401(k) plan.