What is the deadline to set up a SIMPLE IRA?
As I read the IRS publications, I understand the deadline to set up a SIMPLE is Oct. 1st. Am I correct in my understanding? And I assume that deadline means to be able to have a SIMPLE IRA in the upcoming calendar year. Or is the Oct. 31 deadline in regards to the current calendar year.
Permalink Submitted by Alan Spross on Tue, 2012-11-20 03:01
October 1st is the deadline for the current CY unless the employer is newly formed (can be set up after 10/1) or employer had a prior SIMPLE IRA.