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Form 5305-SIMPLE (Rev. March 2012) Department of the Treasury Internal Revenue Service Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) for Use With a Designated Financial Institution
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How to fill out form 5305-simple - t

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How to fill out form 5305-simple - t:

01
Start by providing personal information such as your name, address, and social security number.
02
Indicate whether you are the plan sponsor or the trustee of the SIMPLE IRA plan.
03
Determine the type of contribution being made - whether it's an initial or additional contribution.
04
Enter the amount of each contribution made to the plan.
05
Specify the year for which the contributions are being made.
06
If applicable, indicate any transfers or rollovers from another SIMPLE IRA plan.
07
Sign and date the form to certify the information provided.

Who needs form 5305-simple - t:

01
Employers or self-employed individuals who wish to establish a SIMPLE IRA plan for themselves and their eligible employees.
02
Individuals who want to make contributions to an existing SIMPLE IRA plan.
03
Plan sponsors or trustees who need to report contributions made to the plan.
It's important to consult with a tax professional or refer to the IRS guidelines to ensure accurate completion of form 5305-simple - t, as requirements may vary depending on individual circumstances.

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