SIMPLE Plan for Non calandar year end client

[rfahey]

Are Simple plans required to have a 12/31/year end ?

What implications are there then for a corporate client that has a March 31 year end ?

Are the company matching contributions deductible as paid each pay period thru the year?

Any other bogeys to watch out for ?

Many thanks.

[Belgarath]

Yes, SIMPLE-IRA plans are required to be maintained on a calendar year basis. For a corporation with a fiscal year other than calendar year, they take their deduction for the fiscal year in which the calendar year ends.