Resources - IRA-Based Plans

Retirement Plans Check-Up

Three-step approach designed to help business owners properly operate their retirement plans.

Frequently Asked Questions:

• IRAs
• Plan Investments
• SEPs
• SIMPLE IRA Plans
• SARSEPs
• Waivers of the 60-day Rollover Requirement

Forms:

• Form 1099-R, Distributions From Pensions, Annuities, Retirement or Proft-Sharing Plans, IRAs, Insurance Contracts, etc.
• Form 5305A-SEP, Salary Reduction Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement
• Form 5305-SEP, Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement
• Form 5304-SIMPLE, Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) - Not for Use With a Designated Financial Institution
• Form 5305-SIMPLE, Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) - for Use With a Designated Financial Institution
• Form 5329, Additional Taxes on Qualified (Including IRAs) and other Tax-Favored Accounts
• Form 8880, Credit for Qualified Retirement Savings Contributions
• Form 8881, Credit for Small Employer Pension Plan Startup Costs

Publications - IRS:

• Publication 17, Your Federal Income Tax
• Publication 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans)
• Publication 575, Pension and Annuity Income
• Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs)
• Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs)
• Publication 939, General Rule for Pensions and Annuities
• Publication 3066, Have you had your check-up this year? for Retirement Plans
• Publication 3998, Choosing a Retirement Solution for Your Small Business
• Publication 4118, Lots of Benefits - Retirement Plans Life Cycle
• Publication 4333, SEP Retirement Plans for Small Businesses
• Publication 4334, SIMPLE IRA Plans for Small Businesses
• Publication 4336, SARSEP for Small Businesses
• Publication 4407, SARSEP - Key Issues and Assistance
• Publication 4587, Payroll Deduction IRAs for Small Businesses

Other Resources:

• Fix-It Guides - Common Problems, Real Solutions
  Find, fix, and avoid common mistakes in plans.
  • SIMPLE IRA Plan Fix-It Guide
  • SEP Plan Fix-It Guide
  • SARSEP Fix-It Guide
     
• It is important to review the requirements for operating your retirement plan's operating requirements every year. IRS designed these checklists as a tool to help you keep your plan in compliance with important tax rules.
  • SIMPLE IRA Plan Checklist
  • SEP Checklist
  • SARSEP Checklist
     
• Correcting Plan Errors
  IRS correction programs that enable sponsors or retirement plans that have experienced compliance violations to preserve the tax benefits of their plans.
   
• Saver's Credit
  IR 2007-187 (11/09/2007) - Plan Now to Get Full Benefit of Saver’s Credit; Tax Break Helps Low- and Moderate-Income Workers Save for Retirement.
   
• Cost-of-Living Adjustment Increases
  Annual dollar limitations on benefits and contributions.
   
• Rollover Chart
  A Rollover Chart summarizing the rollover rules is provided as a general guide but should not be relied upon as a substitute for professional tax advice.
   
• Changes in Your Life May Affect Retirement Planning

• "Why SEP or SIMPLE IRAs are Hassle-free Retirement Plans" video
  A discussion on two types of retirement plans (SEP and SIMPLE IRA) that are tailored for many businesses
   
• “How IRAs Help to Increase Your Retirement Savings" video
  Reasons for starting a retirement savings program.

Help:

• Federal Deposit Insurance Corporation
• FirstGov
  A one-stop portal to Federal Government public websites.
• Social Security Administration
• Securities and Exchange Commission
  Calculators for Investors
• usa.gov
  Official information and services from the U.S. government
• U.S. Financial Literacy and Education Commission
  Providing financial education resources for all Americans
• DOL's Employee Benefit Security Administration