MarZDoates Posted February 9, 2010 Report Share Posted February 9, 2010 Partnership sponsors a SIMPLE IRA for two partners and two employees. The partnership is being dissolved...one partner and one employee is leaving effective March 1, 2010....What needs to be done with the SIMPLE IRA that was sponsored by the "former" partnership. The remaining partner becomes a sole proprietor and wants to continue the SIMPLE for himself and the remaining employee. Can they terminate one SIMPLE and start a new one with a new plan document naming the sole prop as the sponsor? QPA, QKA Link to comment Share on other sites More sharing options...
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