How Do You Suspend A Fidelity Simple IRA Plan?
Several retirement plan options exist for the small business owner. The Fidelity Simple IRA is one of the easiest, cheapest and most popular choices for companies whose employees will most likely be making only minimal contributions. The Simple IRA has some regulations and restrictions that other plans do not, but it is also one of the easier types of group retirement plans to administer. If you feel that a suspension of your company’s Fidelity Simple IRA contributions, or a complete termination of the plan, is in the best interests of the company and its employees, making those changes to your operation can be done quickly and efficiently with little effort. Decide when to suspend your Fidelity Simple IRA. According to the IRS, “An employer may terminate a Simple IRA plan prospectively, beginning with the next calendar year, after the employer has informed employees that there will be no Simple IRA plan for the upcoming year.” Consider that IRS regulations require you to continue fund
