or if you want employees to choose their own bank or financial institution (Form 5304). The contribution limits on a SIMPLE IRA are lower than other retirement savings plans. That means your ...

Finally, the employer sets up a SIMPLE IRA for each employee and fills out form 5305-S or 5305-SA, depending on whether the account is set up as a trust or custodial account. Most online ...

Employees report their annual contributions on Form 1040. SIMPLE IRAs are designed for small businesses as a way to offer a retirement savings plan for employees. To offer a SIMPLE IRA to an ...

To accomplish the transfer, you would need to submit a SIMPLE IRA adoption agreement along with a copy of the Form 5304-SIMPLE or Form 5305-SIMPLE that the employer filled out to establish the ...

Workers participating in a SIMPLE IRA will always get a helping hand saving for retirement because employers must make some form of a contribution to employees' accounts. Self-employed people are ...

Employers file different IRS forms to set a SIMPLE IRA depending on whether they opt for a single custodian or let their employees choose different custodians. If an employee wants to participate ...

If a SIMPLE IRA plan permits it, employees who are 50 or older will have an additional savings option available to them in the form of catch-up contributions. The catch-up contribution limit for ...

Employees are allowed to contribute up to $12,500 in the form of salary reductions to their SIMPLE IRA in 2015, but contributions may not exceed their compensation. In other words, if you earn $ ...