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

Question

Quizplus · Accepted Answer

Individual 401(k)s are available to self-employed individuals, but the statement about having 100 or fewer employees is incorrect. They are typically for self-employed individuals with no employees.

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