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Use Form 5304-SIMPLE if you allow each plan participant to select the financial institution for receiving his or her SIMPLE IRA plan contributions. Use Form 5305-SIMPLE if you will deposit all SIMPLE IRA plan contributions at an employer-designated financial institution.
A transmittal sheet is a PDF file (in most cases) that contains information about the files being transmitted, such as the senders name, the recipients name, and a list of the documents that are being sent with important details about each.
Transmittals: Used to send information or documents from one party to another, often serving as a cover sheet. Transmittals track the exchange of information but do not necessarily require a response.
The general recommendation is at least 15% to your retirement accounts, but more is always better. The amount you ``should contribute is personal and depends on whether you want to spend more freely or save for an early/large retirement.
IRS Form 5305-SIMPLE , Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) - for Use with a Designated Financial Institution, if you require that all contributions under the SIMPLE IRA plan be initially deposited with a designated financial institution.
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Contribution Transmittal Form Use this form when making contributions to employee aka participant including business owner accounts. To allow for timely processing be sure to complete all requested information. Do not use this form to place trade instructions.
If youre looking for a low-cost retirement plan for your employees, make sure to consider a SIMPLE IRA. Your local Edward Jones financial advisor can help you explore your options. Contact us for a complimentary, no-obligation consultation.

edward jones contribution transmittal form