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M Norton

comp to use for SIMPLE IRA started October 1st

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company started SIMPLE IRA plan beginning 10/1/2018.  The company operates on a calendar year.  When calculating the SIMPLE IRA match, can you use compensation for the full year, or only from October - December?

Thanks!

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You must use the whole calendar year.  Everything is always the whole calendar year.  There is no such thing as a comp as a participant, etc. in these plans.

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