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SIMPLE IRA and Fidelity Bond Requirements

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Do you generally recommend that your clients maintain a fidelity bond for SIMPLE IRA's? What factors should be considered in making the determination? The guidance that "such plans are generally structured in such a way that if any person does handle funds or other property, that person will fall under one of the financial institution exemptions" seems to lean toward the bond not being necessary. However, if the employer or a payroll company handles funds, how does this fall under the scope of the financial institution exemptions?

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