SEP IRAs and SIMPLE IRA plans are easy to establish and operate and have little administrative cost. They are also easy to communicate to employees and are often considered to be ideal starter plans for small businesses. Both plans have competing and similar features and benefits that would make them suitable for the small business.
DESIGNED FOR
Financial advisors, tax professionals, and individuals who support IRAs and employer plans (employees of financial institutions who answers questions about and handle transactions for IRAs and employer plans).
BENEFITS
- Learn the operational and compliance requirements fort SEP IRAs and SIMPLE IRAs
- Determine the contribution requirements and limits for SEP IRAs and SIMPLE IRAs
- Know how to establish SEP IRAs and SIMPLE IRAs
- Learn how to communicate SEP IRAs and SIMPLE IRAs, in accordance with regulatory requirements
HIGHLIGHTS
- The features and benefits of SEP IRAs and SIMPLE IRAs
- Documentation requirements for SEP IRAs and SIMPLE IRAs
- Identifying suitable businesses
- Contribution rules
- Notification requirements
- Terminating a SEP or SIMPLE IRA
COURSE LEVEL
Intermediate
PREREQUISITES
A basic un.standing of individual income tax.
ADVANCE PREPARATION
None