Simple IRA Question
My client has no employees other than his wife who are eligible for their Simple IRA. The company has 1099 independent contractors, but no employees.
We would like to change custodians for their simple ira at this time. Can we do this?
Husband and wife are 50/50 owners, if that makes any difference.
Permalink Submitted by Michael S on Wed, 2018-12-05 18:23
I’ll add, my only worry is the 5305. The simple ira has been established for 10 years, so I don’t believe the two year rule would discourage them. I’m only worried about the 5305 and the “notification period”