Best Solo 401(k) Providers for Freelancers in 2026 — Fees, Features & Comparison

Compare the best Solo 401(k) providers for freelancers in 2026. Side-by-side fees, Roth options, crypto support, and setup costs — verified weekly.

·8 min read
Freelancer reviewing Solo 401k options

Why You Need a Solo 401(k) as a Freelancer

Here's the thing about freelancing: no employer is matching your retirement contributions. You're on your own. But that also means you get to be both the employee and the employer, which opens up a massive tax advantage.

A Solo 401(k) lets you contribute up to $69,000 in 2026 ($76,500 if you're 50+). Compare that to a Traditional IRA's measly $7,000 limit. You can sock away almost 10x more into tax-advantaged accounts.

Here's how it breaks down. You contribute as the employee (up to $23,000, or $30,500 if 50+). Then you contribute as the employer (up to 25% of your net self-employment income). Both contributions are tax-deductible, dropping your taxable income substantially. If you're making six figures as a freelancer and not using a Solo 401(k), you're leaving serious money on the table.

If You're in a Hurry

Don't have time to read 2,000 words? Here are the three providers I'd recommend depending on what you need:

Fidelity or Schwab if you want zero fees and plan to stick with stocks, bonds, and index funds. Both are identical—pick whichever interface you prefer. Setup takes 20 minutes.

Carry if you want to hold Bitcoin or Ethereum in your retirement account. They make crypto investing dead simple, but you'll pay $299/year for that convenience.

MySolo401k if you want full control—real estate, private equity, crypto, whatever. It costs $650 upfront plus $125/year, but you get checkbook control and can invest in basically anything legal.

Quick Comparison: Solo 401(k) Providers

Here's the pricing breakdown for the 8 main providers freelancers actually use:

→ See full feature comparison table

Provider Setup Fee Annual Fee Best For
Fidelity$0$0Zero-cost simplicity
Charles Schwab$0$0Same as Fidelity
E*TRADE$0$0Active traders
Vanguard/Ascensus$0$80/qtr*Index fund purists
Carry$299$299Crypto holders
MySolo401k$650$125Self-directed control
Rocket Dollar$360$180/yrAlt investments
Ubiquity$285$228Managed service

*Vanguard fees changing May 2026 to $20/quarter + 0.03% of balance

The Big Three: Zero-Fee Providers

Fidelity

$0 setup, $0 annual

Fidelity is where most freelancers should start. No fees, no minimums, no catch. You get access to thousands of mutual funds and ETFs, and if you're buying Fidelity index funds, you're paying expense ratios as low as 0.015%.

The interface is clean. Customer service is solid. You can set up automatic contributions from your business checking account. It just works. The only real limitation? You can't borrow from your account, and you're limited to traditional investments—no crypto, no rental properties, no private placements.

Most freelancers never need those exotic options anyway. If you're putting money into a target-date fund or a three-fund portfolio, Fidelity does everything you need for free.

→ Open Fidelity Solo 401(k)

Charles Schwab

$0 setup, $0 annual

Schwab is functionally identical to Fidelity. Zero fees. Zero minimums. Thousands of investment options. The main difference is the interface—some people prefer Schwab's layout, some prefer Fidelity's. Flip a coin.

Like Fidelity, you can't do self-directed investments or take out loans. But if you're buying and holding index funds, it doesn't matter. Both are excellent choices.

→ Open Schwab Solo 401(k)

E*TRADE

$0 setup, $0 annual

E*TRADE rounds out the zero-fee trio. If you're already using E*TRADE for taxable accounts, this makes sense. If not, Fidelity or Schwab are probably easier.

E*TRADE's strength is the trading platform—better tools for active traders who want to analyze charts and manage options strategies. But for a basic buy-and-hold Solo 401(k)? It's overkill. Still, zero fees is zero fees.

→ Open E*TRADE Solo 401(k)

The Index Fund Specialist

Vanguard (now Ascensus)

$0 setup, changing fee structure May 2026

Vanguard sold their Solo 401(k) business to Ascensus in 2024, but you still get access to Vanguard funds. The fee structure is changing in May 2026: instead of $20 per fund per year, you'll pay $20 per quarter plus 0.03% of your balance up to $100,000.

Do the math. If you have $50,000 in your account, that's $80/quarter ($320/year) plus $15 (0.03% of $50k). Total: $335/year. Meanwhile, Fidelity charges you nothing.

The only reason to choose Vanguard/Ascensus is if you're religiously committed to Vanguard funds and refuse to buy them anywhere else. But you can buy Vanguard ETFs at Fidelity or Schwab for free, so this doesn't make much sense anymore.

→ Learn more about Ascensus Individual(k)

The Crypto and Self-Directed Options

Carry

$299 setup, $299/year

Want Bitcoin in your retirement account? Carry makes it ridiculously easy. Connect your Solo 401(k) to Coinbase or Gemini, buy crypto directly, and it's all tax-deferred (or tax-free with Roth). No hoops to jump through.

They also support mega backdoor Roth conversions, which is huge if you're maxing out contributions and want more Roth space. The $299/year fee is worth it if you're serious about holding crypto long-term and want the tax advantages.

One thing to note: Carry isn't the only provider offering crypto. MySolo401k and Rocket Dollar also let you buy crypto, but Carry's interface is the most streamlined. If you want to own Bitcoin without dealing with custodians and paperwork, Carry wins.

→ Open Carry Solo 401(k)

MySolo401k (Nabers Group)

$650 setup, $125/year

This is the provider for people who want to invest in things that make compliance officers nervous. Real estate? Sure. Private equity? Yep. Crypto? Of course. Tax liens? Why not.

MySolo401k gives you checkbook control, meaning you manage a business checking account tied to your Solo 401(k). Want to buy a rental property? Write a check from your Solo 401(k) account. No waiting for custodian approval.

The downside is complexity. You need to understand prohibited transaction rules—you can't buy property from yourself, rent to yourself, or use the property personally. Screw it up and the IRS could disqualify your entire plan. If you're not already familiar with self-directed retirement accounts, start with something simpler.

But if you know what you're doing and want maximum flexibility, MySolo401k is the best option. The $650 setup fee is steep, but $125/year ongoing is cheaper than competitors.

→ Open MySolo401k Account

Rocket Dollar

$360 setup, $15/month ($180/year)

Rocket Dollar is the middle ground between Carry and MySolo401k. You get self-directed investing (including crypto), but with a slightly friendlier interface and lower setup cost than MySolo401k.

The monthly fee adds up though—$15/month is $180/year, more expensive than MySolo401k's $125. And there's no loan feature, so you can't borrow from your account if you need emergency cash.

If you want self-directed capabilities but find MySolo401k too intimidating, Rocket Dollar works. Just know that over 5 years, you'll pay $900 in fees versus $625 with MySolo401k.

→ Open Rocket Dollar Solo 401(k)

The Full-Service Option

Ubiquity

$285 setup, $19/month ($228/year)

Ubiquity is for people who want someone else to handle everything. They'll help with compliance, send you reminders about deadlines, and answer questions when you're confused about contribution limits.

The fee structure is $19/month ($228/year) plus a $285 setup fee. That's more than MySolo401k but less than I initially thought—earlier data had them at $500/year, which would have been absurd. At $228/year, it's reasonable if you value the hand-holding.

You can also take loans from your account and set up mega backdoor Roth conversions. If you're earning $200k+ and want professional support, Ubiquity makes sense. For most freelancers, though, Fidelity is simpler and free.

→ Learn more about Ubiquity

How to Choose Your Provider

Here's the decision tree. Answer these questions and you'll know where to go:

Do you want to invest in anything other than stocks, bonds, and mutual funds?
No → Fidelity or Schwab. Done.
Yes → Keep reading.

Is that "other thing" specifically crypto?
Yes, and I want it to be easy → Carry.
Yes, but I also want real estate and other assets → MySolo401k.
No, I want real estate or private equity → MySolo401k or Rocket Dollar.

Do you want to be able to borrow from your account?
Yes → MySolo401k or Ubiquity (Fidelity, Schwab, E*TRADE, Carry, and Rocket Dollar don't offer loans).

Do you want someone to hold your hand through setup and compliance?
Yes, and I'm willing to pay for it → Ubiquity.
No, I can figure it out myself → Any zero-fee provider.

That's it. Most freelancers will land on Fidelity or Schwab. If you have specific needs (crypto, real estate, loans), you know where to look.

Not sure which provider is right for you? Take our 60-second quiz to get a personalized recommendation.

Common Questions

Can I have both a Solo 401(k) and a W-2 job?

Yes. Your employee contributions are combined across both accounts (max $23,000 total, or $30,500 if 50+). So if you put $10,000 into your day job's 401(k), you can only put $13,000 as employee contributions into your Solo 401(k). Employer contributions are separate—you can still contribute up to 25% of your freelance income as the employer.

Traditional or Roth Solo 401(k)?

Traditional = tax deduction now, pay taxes later. Roth = no deduction now, tax-free withdrawals later. Most freelancers should do Traditional to lower their current tax bill, but if you're in a low-income year, Roth makes sense. You can split contributions between both if you want.

Do I need to file Form 5500?

Only if your account balance exceeds $250,000 at year-end. Below that? No filing required.

Can I borrow from my Solo 401(k)?

Only with MySolo401k and Ubiquity. The zero-fee providers (Fidelity, Schwab, E*TRADE) don't allow loans. Carry and Rocket Dollar don't either. Max loan is 50% of your balance or $50,000, whichever is less.

What if I hire employees?

If you hire a W-2 employee who works 1,000+ hours per year, you'll need to convert to a regular 401(k) and potentially contribute on their behalf. Most Solo 401(k) owners avoid this by hiring contractors instead of employees.

Can I invest in crypto?

Only with self-directed providers: Carry, MySolo401k, and Rocket Dollar. Fidelity, Schwab, Vanguard, and E*TRADE limit you to traditional investments.

When to Set Up Your Solo 401(k)

Here's where the deadline confusion comes in. To make employee contributions for 2026, your plan needs to be established by December 31, 2026. But you don't need to fund it by then—you have until your tax filing deadline (April 15, 2027, or later with extensions) to actually make contributions.

So if you're reading this in December and panicking, relax. Set up the account before year-end, but you've got until April to move money into it.

Head-to-Head Provider Comparisons

Want a deeper dive into how two specific providers stack up? Check out these side-by-side comparisons:

→ See all 28 head-to-head comparisons

Next Steps

Pick a provider from the list above. Most can have you set up in under 30 minutes. Fidelity and Schwab are the easiest—just fill out an online application and link your bank account.

Check the full comparison table if you want to see every feature side-by-side. Or browse current retirement account deals to see if any providers are running promotions.

The sooner you start, the more years of tax-deferred growth you'll get. Even if you only contribute $10,000 this year, that's $10,000 you're not paying taxes on right now. Over 30 years at 7% returns, that's $76,000. Not bad for 30 minutes of paperwork.

This is educational content, not financial advice. Talk to a CPA about your specific tax situation.

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