How to Start a 401(k) Plan for My Business

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 29, 2023

To start a 401(k) plan for a business, you must:

  • Decide who will oversee the plan; you or a third-party
  • Create a written outline for the plan
  • Arrange for a trust to oversee the plan's assets
  • Come up with a recordkeeping system to track employee contributions
  • Distribute information to eligible employees

Connect With a Vetted 401(k) Advisor

* required fields

How to Start a 401(k) Plan for a Business FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.

Meet Retirement Planning Consultants in Your Area

Find Advisor Near You