If you have a Solo 401k and want to start payroll for a minor (anyone under 21), will that automatically disqualify the Solo 401k plan? My understanding is that the minimum age for 401k is 21 years old so the minor cannot participate as an employee.
A 401(k) is required to cover employees at age 21 and can have younger employees but not sure about a solo (k) – I’m assuming the minor is the only employee/owner. Suggest you speak to a plan administrator. I’m guessing the plans with mutual funds may not provide this option.