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Small Business FAQs

Overview SEP IRAs SIMPLE IRAs SEP or SIMPLE Comparison FAQs
What forms do I need to fill out?

You can quickly and easily set up a SEP or SIMPLE IRA for yourself and any eligible employees:

  • The employer fills out a pre-approved IRS form to establish the plan.
  • The employer provides each eligible employee with copies of the IRS form and plan disclosure statement.
  • Each participating employee fills out an IRA Adoption Agreement. For a SIMPLE IRA, participants must also complete a form that documents the percentage of salary or dollar amount to be deferred into their account.
  • The employer mails the following to J.P. Morgan's custodian:
  • Completed SIMPLE IRA Adoption Agreements (if applicable)
  • A check for the total contribution
  • Contribution allocation form
Where can I get the necessary documents?

Your financial advisor or J.P. Morgan can provide all the forms you and any employees need. To reach us directly, call our Fund Services at 1-800-480-4111.

Are there any other IRS filing requirements?

Unlike many other retirement plans, SEP and SIMPLE IRAs don't require employers to submit annual tax filings with the IRS.

What's the deadline for establishing a plan for the current year?
  • SEP IRA: The employer's tax filing deadline, including filed extensions
  • SIMPLE IRA: October 1 for existing companies
What's the deadline for making employer contributions?

For both SEP and SIMPLE IRAs, employers have until their tax filing deadline, including filed extensions, to make contributions for the current plan year.

The information above is not intended to provide and should not be relied on for accounting, legal and tax advice or investment recommendations. The views and strategies described may not be suitable to all readers. Please contact your financial professional or tax advisor for additional information.

Asset allocation/diversification does not guarantee investment returns and does not eliminate the risk of loss.

IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.