To get around this, it is better to set up a Solo 40o1k with checkbook control. You have much greater depository limits (above $50k+) while enjoying many of the same benefits. The only caveat is that you have to be self-employed in some way... you must file a Schedule C showing income. So do something you might enjoy like start an Uber business or something that will send you a 1099. You can deposit the amount you claim on Schedule C income.