Over 3% matching in SIMPLE IRA
Hello,
A business owner client of mine found that he has contributed more than 3% of an employees pay for this year.
It ended up being about 6%.
Would that be an issue?
Also, would the financial institution report on the form 5498 the employee contribution amount? EE and ER together? or EE and ER separately?
Thanks you!
Permalink Submitted by Alan - IRA critic on Fri, 2019-12-27 16:48