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An Employer will make the salary reduction contributions (described in 1 ... Form 5305-SIMPLE (Rev. 3-2012). Page 2. Article IV Other Requirements and ... determined under section 1402(a), without
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Step 1: Start by entering your personal information in the designated fields on page 1 of form 5305-simple.
02
Step 2: Provide your tax identification number and the name of your financial institution.
03
Step 3: Indicate the type of retirement plan you are establishing.
04
Step 4: Fill out the section related to rollover contributions, if applicable.
05
Step 5: Specify the effective date of the plan and the plan administrator's name.
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Step 6: Sign and date the form before submitting it.
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Step 7: Keep a copy for your records.

Who needs form 5305-simple page 1?

01
Anyone who wants to establish a Simplified Employee Pension (SEP) plan or a Savings Incentive Match Plan for Employees (SIMPLE) IRA plan.
02
Employers who want to provide their employees with a retirement savings option.
03
Self-employed individuals who want to save for retirement.
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