SIMPLE IRA

A SIMPLE IRA is an employer plan in which the employee can make tax-deferred contributions and the employer can add a percentage match.

At a Glance

What should you know about a self-directed SIMPLE IRA?

Tax Benefits

Other Benefits

Distribution Rules

What should you know about SIMPLE IRA distributions?

Minimum Distribution Facts

Early Distribution Facts

SIMPLE IRA distributions are considered “early” if taken prior to age 59 ½ or if taken before the account has been open for two years.
In addition to income taxes, early distributions may be subject to early withdrawal penalties. Distributions taken prior to the age of 59 1/2 may be subject to a 10% early withdrawal penalty, while distributions taken within the first two years of participation in your employer's SIMPLE plan may be subject to a 25% penalty.

Getting Started

How do you fund your SIMPLE IRA account?

Contributions

Employees can enjoy employer contributions while making contributions of their own. In 2024, employees can contribute 100% of their compensation up to $16,000, while those 50 years old or older may contribute an additional $3,500 per year.

Employers can either match employee contributions up to 3% of compensation or contribute 2% of income to all eligible employees, regardless of their compensation activities.

Transfers

The SIMPLE IRA must be open for two years before it can be transferred. SIMPLE IRAs, Traditional IRAs, and SEP IRAs can all be transferred to or from a SIMPLE IRA.

Rollovers

The SIMPLE IRA must be open for two years before it can be rolled over. 401(k)s, 403(b)s, 457(b)s, and Thrift Savings Plans can all be rolled into or from a SIMPLE IRA.

Other Investments

ROI is everywhere if you know where to look

No financial advisor knows you better than yourself. With a self-directed SIMPLE IRA, you have the freedom to invest your tax-advantaged retirement funds in the assets you’re most passionate about.

From real estate to start-ups to small businesses, if you can find it, we will help you fund it.

REAL ESTATE

PRIVATE EQUITY