A 1% fee smells like investment advice to me, not like plan costs. There's really no way around some costs on a full blown profit sharing plan (a Keogh plan for the self-employed). You'll need a formal plan document which needs to be amended from time to time as congress makes changes in the tax laws. There are plan administrators (and, yes, banks can do that) who will help you set up the plan and keep it in compliance. You can also use an attorney or an accountant for this, although my preference is for either the attorney or plan administrator with an IRS approved "prototype" plan. Most of them will charge a fixed fee rather than a percentage of assets.Then there is an annual reporting requirement (on one of the form 5500 series - likely a 5500EZ for your one-participant plan). Once again, any of the people previously mentioned can prepare this. This time I lean towards the accountant or plan administrator (attorneys just seem to have a problem keeping all the numbers straight - but then I'm a CPA and perhaps biased).--Peter
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