Guest Joanne Davey Posted March 31, 2003 Posted March 31, 2003 If a Client has a Simple IRA plan and they want to establish a 401(k). Do they have to actually terminate the SIMPLE IRA or do they just have to stop contributing to the SIMPLE IRA? How would they terminate a SIMPLE IRA if they had to?
Guest Lugeguy Posted March 31, 2003 Posted March 31, 2003 The SIMPLE IRA plan document will have some information about stopping the plan. This usually deals with notifiying your administrator...most require 60 days and the employees. There of course are other considerations, such has plan year and not completing the year. I would recommend you seek advice from your accountant and a financial professional that offers the plans. Bob
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now