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SIMPLE IRA--Terminating the plan during the year


Guest DLevine
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Guest DLevine

I've read previous e-mails in which you state that "any amendment that is inconsistant with the notice (previously given for the year) does not become effective until the following year". Therefore, the plan cannot be amended or terminated during the year. Where does it say this?-- in the guidance or the model form? I need to show it to a client and can't track it down.

Thanks.

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DLevine

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Guest DLevine

Gary, thanks for the information regarding the LRMs in response to my question of terminating a SIMPLE IRA during the year. The SIMPLE plan that we offer is the IRS model which doesn't contain this language (as far as I can tell). So does the model have this additional flexibility compared to the prototype??-- I would think not but I would appreciate your thoughts.

Thanks again.

Thanks again.

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DLevine

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