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For you and your family
Standard mileage and other information

Forms and Instructions

Individual Tax Return
Instructions for Form 1040
Request for Taxpayer Identification Number (TIN) and Certification
Request for Transcript of Tax Return

 

Employee's Withholding Allowance Certificate
Employer's Quarterly Federal Tax Return
Employers engaged in a trade or business who pay compensation
Installment Agreement Request

Popular For Tax Pros

Amend/Fix Return
Apply for Power of Attorney
Apply for an ITIN
Rules Governing Practice before IRS

SIMPLE IRA Plan FAQs

A SIMPLE IRA plan provides small employers with a simplified method to contribute toward their employees' and their own retirement savings. Employees may choose to make salary reduction contributions and the employer is required to make either matching or nonelective contributions. Contributions are made to an Individual Retirement Account or Annuity (IRA) set up for each employee (a SIMPLE IRA).

A SIMPLE IRA plan account is an IRA and follows the same investment, distribution and rollover rules as traditional IRAs. See the IRA FAQs.

See also IRS Publication 560IRS Publication 590-A, IRS Publication 590-B and IRS Notice 98-4 for detailed information on SIMPLE IRA plans and SIMPLE IRAs.

These FAQs provide general information and shouldn’t be cited as legal authority. Because these answers don’t apply to every situation, yours may require additional research.


Establishing a SIMPLE IRA plan
Participation
Compensation
Contributions
Distributions
Investments (same as IRA rules - see  IRA FAQs)
Rollovers
Terminating a SIMPLE IRA plan
 

Have a question about retirement plans? Contact us.