How do I request an Owner’s Draw?

If you are eligible and would like to make an owner’s draw contribution, you can use the following instructions to make a contribution via your Guideline Dashboard:

  1. Enter the “Roster” page of your plan administrator dashboard. 
  2. Select the owner’s name who is making the draw contribution.
  3. Check the box “is an owner”.
  4. Change wage type from “W-2” to “Self Employment.” 

Once you are marked as an owner making self-employment income, you’ll notice that your personal Guideline account “Change Contributions” page will be updated to reflect this change. You will now be able to designate your desired contribution amount and we’ll pull those funds from the company’s Contribution Default bank account on file

Contributions must be made by year’s end. If your plan has a match, we will send you a task notification within the following year to confirm the amount you will be including on your self-employment income tax filing so that we may calculate the match accordingly.

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