I currently have a Fidelity self-employed (Solo) 401(k) but I am disappointed that I am not allowed to make voluntary after-tax contributions.
Would I be able to have a Fidelity self-employed 401(k) for pre-tax employee and employer contributions and a MySolo401k (held at Fidelity) for voluntary after-tax contributions?
Yes, a self-directed solo 401k from a solo 401k provider such as My Solo 401k Financial plan does allow for Voluntary After-Tax contributions. Please see the below post and video for more information on Voluntary After-Tax: click here.
The existing self-employed 401k at Fidelity can be restated to a self-directed solo 401k and you could use Fidelity as the custodian of the cash. The self-directed solo 401k provider would complete all the necessary Fidelity brokerage forms and internal transfer form. The provider would set up a Pretax Solo 401k for your employee and employer contributions, the Voluntary After-Tax Solo 401k sub-account, and then a Roth Solo 401k account or if you wanted to you can convert the After-Tax contributions to a Roth IRA at an institution of your choice. To learn more about how you can use a self-directed solo 401k provider and Fidelity at the same time, CLICK HERE.