Control Group SIMPLE IRA contributions
Can a person who owns 100% of two businesses establish a SIMPLE IRA account that both businesses contribute to? If Yes, does each company establish their own SIMPLE document or can one document accommodate both companies by one being the Sponsor and the other being a Participating ER as we do with 401 code section plans? P.S. I realize there is no increase in contribution maximums.
Submitted by Jeffery Acheson on Mon, 2019-12-09 20:46