This kit will be used by an employer (i.e. a business customer) to establish the SIMPLE plan. The use of the Form 5305-SIMPLE means that your institution will be the "designated financial institution" and you will have the related duties. Under this type of SIMPLE plan each eligible employee is NOT permitted to select the financial institution for his or her SIMPLE IRA. Each employee has special rollover/transfer rights.
The kit contains the following items:
(1) Form #917, the IRS Model Form 5305-SIMPLE;
(2) a service agreement for SIMPLE plans (#919);
(3) the summary description of the SIMPLE plan (#918);
(4) an eligibility worksheet (#920);
(5) the salary-reduction elective contributions instruction form (#970); and
(6) a worksheet to report salary reductions and matching contributions on a per-payroll basis (#921).
Be aware that you will need to add to the kit a SIMPLE-IRA form (#940, #941, or #942) for each eligible employee.
Package contains 1 kit. Call for quantity pricing or for imprint orders. 800-346-3961
