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Is there a deadline to set up a SIMPLE IRA plan?

April 26, 2017Deadline IRA Plan simple

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Is there a deadline to set up a SIMPLE IRA plan?

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A SIMPLE IRA plan can be set up effective on any date between January 1 and October 1, provided the plan sponsor did not previously maintain a SIMPLE IRA plan. If a SIMPLE IRA plan was previously established, a SIMPLE IRA plan may be set up effective only on January 1.