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Phoenix Arizona online Form 5305-A-SEP: What You Should Know

Businesses. 5304-SEP IRA—Simplified Employee Pension. Contribution Agreement, or a nonmodel SIMPLE IRA, instead of, or in addition to, this form. IRA. SEP-SIMPLE is not accepted. 5305-SIMPLE IRA Savings Incentive Match Plan for Employees of Small Business Individuals. Contribution Agreement, or a nonmodel SIMPLE IRA instead of, or in addition to, this form. IRA. SIMPLE-SIMPLE. The IRS has published several books (both book forms and paper forms) that contain a great deal of information for both employers and employees to assist with the process of establishing a Simplified Employee Retirement Plan for their employees. The IRS also publishes the following resources: 5305-SIMPLE/SIMPLE-SIMPLE — Employer's Guide/Employee's Guide A 5305-SIMPLE IRA account, or the SIMPLE-SIMPLE account, is a retirement account approved by the employer and made payable to the employee. It is used to make employer contributions and will be used as a source of retirement income. It can be used for all retirement-related activities including retirement, disability, or survivors benefits. The account should be considered separate from the 401(k or 403(b)(9) plans or an individual retirement arrangement (IRA) plan. IRA. You cannot open a SIMPLE IRA. 5305-SEP/5304-SEP — Simplified Employee Pension account. In this account, the employer provides a SIMPLE IRA account for the employee, and the employee provides a SIMPLE IRA account for the employer. For maximum tax advantage, both SIMPLE IRA account and SIMPLE-SIMPLE account benefit from tax-exempt status. The SIMPLE IRA account may be used in the same manner as an IRA. In addition, the SIMPLE-SIMPLE account benefit is subject to a 15% excise tax with maximum possible tax rate of 28.375%. 5305-SIMPLE-SIMPLE — Simplified Employee Retirement and Survivor's Benefit account. In this account, the employee provides a SIMPLE IRA account for the employer and the employer provides a SIMPLE IRA account for the employee. The SIMPLE IRA account may be used in the same manner as an IRA. In addition, the SIMPLE-SIMPLE account benefit is subject to a 15% excise tax with maximum possible tax rate of 28.375%.

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