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

Question

Quizplus · Accepted Answer

Individual 401(k)s are strictly for self-employed individuals who do not have employees.

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