SIMPLE IRA

SAVINGS INCENTIVE MATCH PLAN FOR EMPLOYEES (SIMPLE) IRA

  • We have step-by-step directions HERE.
  • You may also view our Process Diagram HERE.
  • If you have any questions, please contact our office HERE.

A Savings Incentive Match Plan for Employees (SIMPLE IRA) is an IRA-based plan that gives employers an easy way to make contributions toward the retirement of their employees and themselves. This type of plan is designed for small businesses with 100 employees.

 

All contributions are made directly to an IRA account that has been established for each employee (SIMPLE IRA). Eventual distributions are taxed as ordinary income.

 

Also, with a Mountain West IRA self-directed SIMPLE IRA, you can invest your retirement funds in real estate, notes, and many other alternative investments.

  • You have a company with less than 100 employees.
  • You are looking for a plan with low start-up and administrative costs.
  • You want a plan that provides you and your employees with a simplified way to contribute toward retirement.
  • You need to reduce business taxes.
  • You want a plan that can help you attract and retain quality employees.
  • You are looking for a plan that is easy to set up and run.
  • You want employees to contribute through convenient payroll deductions.
  • You would like flexibility in how much to contribute to the employees’ plan.
  • You are looking for a wider range of investment choices including rental real estate, raw land, 1st trust deeds, notes, LLCs, and more.

SIMPLE IRA Contribution Limits and Catch Up Contributions
2021 SIMPLE IRA Contribution Limits
Employee Deferral, Under 50
$13,500
Employee Deferral, 50 and Over
$16,500
Employer can elect from two different contribution methods. Check with your employer which option they have chosen. Employer contributions are in addition to your elective deferrals.

SELF-DIRECTED IRA EDUCATION

Click here to download → 2021 Contribution Limits

Click here to download → 2020 Contribution Limits

If you’re looking for self-directed IRA companies, look no further than Mountain West IRA. We take great pride in helping our clients create the IRA retirement plan that will provide you with the solid financial foundation you need to ensure you can live comfortably in your retirement years.

 

Mountain West IRA is a nationally trusted self-directed IRA administrator. We accept a vast array of alternative investment options so you can create a diverse alternative asset portfolio that yields the results you are looking for to fund your retirement years, while being in control of your retirement.

You can access all of our webinars HERE.

Click here to download → Process Diagram

Prohibited transactions in IRA