SIMPLE IRA Notification when plan is not set up Jan 1
If an employer sets up a SIMPLE mid year (say July 1) does that have any impact on when they have to distribute the notification to eligible employees in the following years?
In other words, will the employer always operate on a mid year basis going forward or will they do calendar year?
Permalink Submitted by Alan - IRA critic on Mon, 2013-09-23 18:39
The first SIMPLE plan year would end 12/31 and thereafter be a calendar year plan for which the notification deadline is 11/2 to meet the 60 day lead time requirement.