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rfahey

Nov 13 2006, 12:03 PM

Are Simple plans required to have a 12/31/year end ?
What implications are there then for a corporate client that has a March 31 year end ?
Are the company matching contributions deductible as paid each pay period thru the year?
Any other bogeys to watch out for ?
Many thanks.

Belgarath

Nov 13 2006, 02:28 PM

Yes, SIMPLE-IRA plans are required to be maintained on a calendar year basis. For a corporation with a fiscal year other than calendar year, they take their deduction for the fiscal year in which the calendar year ends.

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