When investing in real estate with a Solo 401k, plan owners may need to obtain insurance for their properties. In this Solo 401k Quick Tip video, we will discuss what plan owners need to know about insuring a Solo 401k rental property.
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The property insurance for a rental owned by your 401k should be in the name of the Solo 401k trust, which is the owner of the property. Sometimes the insurance company may insist for the insurance to be in your name as individual. As the trustee of the plan, you can obtain insurance in your name, but be sure to ask the insurance company to add the trust as other interest. Remember that insurance premiums as well as any other expenses related to the property must be paid from the Solo 401k account….(read more)
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Thanks for the valuable info!