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Business Simple IRAs OverviewChecking Process Header

Plans Must be Established Between January 1 and September 30 Each Year
While Employer Contributions are Required, Employee Contributions are Voluntary
The Employer Contributions Must be Made by the Employer Tax Return Date Plus Any Extensions
The employee deferral contributions must be made no later than 30 days after the last day of the month to which the salary deferral amounts relate.
The employer/taxpayer directs the investments.
Advantages of a Simple IRA include the following:
  • Contributions are deductible for the employer
  • No discrimination testing
  • Not subject to top heavy rules
  • Some funding responsibility with employees
  • Deferral reduces taxable income to the employee
Securities offered through LPL Financial, Member FINRA / SIPC. Insurance products offered through LPL Financial or its licensed affiliates. IBC Bank and IBC Investment Services are not registered broker/dealers and are not affiliated with LPL Financial.
Not FDIC Insured Not Bank Guaranteed May Lose Value
Not Insured by Any Government Agency Not a Bank Deposit
This site is designed for U.S. residents only. The services offered within this site are offered exclusively through our U.S. registered representatives. LPL Financial U.S. registered representatives may only conduct business with residents of the states for which they are properly registered: Alabama, Arkansas, Arizona, California, Colorado, Delaware, Florida, Georgia, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Virginia and Washington. Please note that not all of the investments and services mentioned are available in every state.