5304 simple rev 2002 form-2025

Show details

4 out of 5

26 votes

The document is Form 5304-SIMPLE, which outlines the Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) under section 408(p) of the Internal Revenue Code. It provides guidelines for employers to establish a SIMPLE IRA plan, detailing employee eligibility requirements, salary reduction agreements, contribution types (matching and nonelective), and administrative procedures. The form emphasizes that contributions are made to individual retirement accounts selected by employees and includes instructions for compliance with IRS regulations.

Here's how it works

01. Edit your form 5304 online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send 5304 simple via email, link, or fax. You can also download it, export it or print it out.

How to complete 5304 simple rev 2002 form for 2025 online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Normally, taxation is pretty cumbersome. The importance of the event puts some pressure on the individual, and completing the form can be challenging. Each character in the 5304 simple rev 2002 form for 2025 matters at such a crucial moment, so completing a printed form may take a lot more time and effort than an electronic one. To make this process more efficient, use DocHub and complete your tax year easily.

DocHub is a powerful modifying platform that takes all the difficulty out of dealing with PDFs. With this service, you can easily complete your 5304 simple rev 2002 form and even sign it immediately. It offers all the required tools to add text, check out boxes, and even draw on the document if needed. It makes no difference if you have used such software before, as the interface is easy to grasp. Additionally, in case of any mistakes, you can fix them without the need to start the whole form over.

Take the following steps to complete your 5304 simple rev 2002 form quickly

Go to the DocHub website and click Sign up to register your free account.
Provide your email and make up a secure password to create an account.
Once authorized, you can drag and drop your file with the tax form or upload it using the New Document button.
Open the document in editing mode and complete your form utilizing the toolbar.
Once you enter all information, run through your tax form again to ensure it is error-free.
Save the form by downloading it on your computer or store it in your profile.

This simple PDF editing tool will make your tax preparation less stressful. Simplify the editing process and prevent ruining printed copies with simple errors written by hand. Create your account and handle tax forms electronically.

See more 5304 simple rev 2002 form versions

We've got more versions of the 5304 simple rev 2002 form form. Select the right 5304 simple rev 2002 form version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2012	4.9 Satisfied (332 Votes)
2008	4.2 Satisfied (26 Votes)
2002	4 Satisfied (26 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How much does an employer have to contribute to a SIMPLE IRA?

Employer contributions to SIMPLE IRAs generally follow one of 2 formulas. Employers can either: Contribute a dollar for each dollar you contribute, up to a max of 3% of your compensation. Typically, employers must perform this match for 3% of your compensation, provided you contribute at least this amount yourself.

What is a 5304-simple form for?

Use Form 5304-SIMPLE if you permit plan participants to select the financial institution to receive their SIMPLE IRA plan contributions. Use Form 5305-SIMPLE if you require all contributions under the SIMPLE IRA plan to be initially deposited at a financial institution you designate.

What is an example of a SIMPLE IRA 3 match?

Example of a SIMPLE IRA Over the course of the year, you would save $4,200 in pre-tax or after-tax dollars, while your employer would contribute $1,800, for a total contribution of $6,000. Since you contributed more than 3 percent of your salary, you will have received the full employer match of 3 percent.

What is the 3% IRA match?

Whats the IRA match? The IRA match is an extra 3% match on annual contributions with Robinhood Gold or 1% without. Previously, you got matched on every external dollar you contributed. Now, you get matched on any amount from contributions, IRA transfers, or old 401(k)s.

Does the employer have to match 3% for a SIMPLE IRA?

How much must I contribute for my employees participating in our SIMPLE IRA plan? Youre generally required to either: match each employees salary reduction contribution on a dollar-for-dollar basis up to 3% of the employees compensation (not limited by the annual compensation limit), or.

Can you exclude employees from a SIMPLE IRA?

Your employees generally qualify to participate in the plan if they earned at least $5,000 in any two prior years and can be expected to earn at least $5,000 in the current year. You may set less restrictive eligibility requirements, and may exclude certain nonresident aliens and union employees from the plan.

What is the difference between SIMPLE IRA 5305 and 5304?

Form 5305 means the entire plan and all participant SIMPLE IRAs are established at one institution, whereas Form 5304 allows the accounts to be established at different institutions. A SIMPLE IRA must be established between January 1 and October 1 of the calendar year.

What are the disadvantages of a SIMPLE IRA?

Are There Downsides to SIMPLE IRAs and SEPs? Employee limitations. SIMPLE IRAs can only be implemented at companies with 100 or fewer employees. Total annual contribution limits. Lower contribution limits than a 401(k). Mandatory employer contributions. No loans or Roth contributions.

5304 simple rev 2002 form-2025

Here's how it works

How to complete 5304 simple rev 2002 form for 2025 online

Take the following steps to complete your 5304 simple rev 2002 form quickly