Is 1099 income (no w-2 income) eligible for company SIMPLE IRA?
Is an employee with only 1099 income (no w-2 income) eligible for company SIMPLE IRA? OR does the employee have to be w-2 (paid via payroll) to be eligible to contribute and receive the match?
Permalink Submitted by Alan - IRA critic on Mon, 2023-09-11 23:44
If a person is not paid W-2 wages they are not eligible for that payee’s SIMPLE IRA plan. However, as an independent contractor they could establish their own SIMPLE IRA, SEP IRA or solo K plan.