Global
Advisers

A SIMPLE IRA may be appropriate for businesses with 100 or fewer employees seeking a low-cost plan that’s easy to administer and maintain.

If you are self-employed or own a business with 100 or fewer employees, you are eligible to establish a SIMPLE IRA plan, as long as it is the only retirement plan you fund. Companies maintaining another employer-sponsored retirement plan in the same year are not eligible. You must generally include all employees age 21 and over if they received at least $5,000 in compensation during any two prior years and if you reasonably expect that they will receive at least $5,000 in the current year.

Employer contributions are tax-deductible. Earnings grow tax-deferred, and you pay no taxes on assets until you withdraw them in retirement.

Funded by employer contributions. Employers can contribute online.

Employer:
Mandatory match or non-elective contribution. Mandatory 3% matching contribution or 2% non-elective contribution.

Participants:
Funded by employer contributions.

0% early withdrawal penalty (25% for first 2 years of plan participation) if under age 59½, subject to certain exceptions. Required minimum distributions starting at age 72.

No account fees and no minimum to open an account.¹ $0 commission for online US stocks and ETFs.*

Certain annual employee notifications must be made. No plan tax filings with the IRS are required.

For the current tax year: Set up and notify employees by October 1. Deferrals and matching must be contributed within 30 days after the end of the month in which amounts would have otherwise been payable to the employee.

Matching contributions are due no later than the due date for filing your business’s income tax return including extension.