Simple = need EIN?
I have a client who is a self employed painter. He has no employees and hasn’t set up a Inc. or LLC.
Is it possible to open a Simple IRA for him to contribute to using his social security number or does he need an EIN?
I have a client who is a self employed painter. He has no employees and hasn’t set up a Inc. or LLC.
Is it possible to open a Simple IRA for him to contribute to using his social security number or does he need an EIN?
Permalink Submitted by Alan - IRA critic on Fri, 2023-07-21 18:24
A solo K would require an EIN, but not a SIMPLE IRA.