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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 and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. IBC Bank and IBC Investment Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using IBC Investment Services and may also be employees of IBC Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of IBC Bank or IBC Investment Services. 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 registered representatives associated with this site may only discuss and/or transact securities business with residents of the following states: 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.
Securities and insurance offered through LPL or its affiliates are:

Not Insured by FDIC or
Any Other Government Agency
Not Bank Guaranteed Not Bank Deposits or Obligations May Lose Value