Which of the following statements concerning individual 401(k)s is false?
A) Individual 401(k)s have contribution limitations.
B) Individual 401(k)s are available only to self-employed taxpayers with 100 or fewer employees.
C) Employees of the taxpayer cannot participate in individual 401(k)s.
D) In general, individual 401(k)s have higher administrative costs than SEP IRAs.

Question

Quizplus · Accepted Answer

Individual 401(k)s are available to self-employed individuals or small business owners with no employees or only a few, not necessarily limited to 100 or fewer. The other statements are true.

Which of the Following Statements Concerning Individual 401(k)s Is False