What if an eligible employee entitled to a contributions is unwilling or unable to set up a SIMPLE IRA?
If an eligible employee who is entitled to a contribution under a SIMPLE IRA plan is unwilling or unable to set up a SIMPLE IRA with any financial institution prior to the date on which the contribution is required to be made to the SIMPLE IRA of the employee, an employer must execute the necessary documents to establish a SIMPLE IRA on the employee’s behalf with a financial institution selected by the employer.
