Forge Trust

Over $11 billion of assets under custody

  • About Us
    • Why Forge Trust?
    • Leadership
    • News
  • Contact Us
  • Log In
    • Client Portal
    • Asset Valuation Portal
  • Self-Directed IRAs
    • Self-Directed IRAs
      • About Self-Directed IRAs
      • Rollover IRA
      • Traditional IRA
      • Roth IRA
      • SEP IRA
      • SIMPLE IRA
      • Self-Employed 401(k)
    • Open An Account
  • Alternative Investments
    • Alternative Assets
      • Alternative Investments Options
      • Real Estate
      • Promissory Notes & Trust Deeds
      • Private Placements
      • Private Equity
      • Precious Metals
    • Learn More About Alternative Investments
  • Advisors
  • Issuers
  • Help Center
  • Forms
You are here: Home / SIMPLE IRA

SIMPLE IRA

A Forge Trust Savings Incentive Match Plan for Employees (SIMPLE IRA) offers individuals and small businesses with 100 or fewer employees tax-advantaged growth when saving for retirement.

SIMPLE IRA 
Who it's for
  • Businesses with 100 or fewer employees and self-employed individuals
  • Available to sole proprietors, partnerships, C corporations,
    S corporations
Key advantages
  • Salary deferral plan with less administration
  • Electronic funding with customized contribution allocation for each participant
Who can contribute
  • Funded by employee deferrals and employer contributions
2019 employee contribution limits
  • Up to $13,000 in salary deferrals; $3,000 catchup contribution for those over age 50
2020 employee contribution limits
  • Up to $13,500 in salary deferrals; $3,000 catchup contribution for those over age 50
2019 employer contribution limits
  • The employer is generally required to match each employee's salary reduction contributions on a dollar-for-dollar basis up to 3% of the employee's compensation. This requirement does not apply if the employer makes non-elective contributions instead

  • Instead of matching contributions, an employer can choose to make non-elective contributions of 2% of each eligible employee’s compensation. If the employer makes this choice, it must make non-elective contributions whether or not the employee chooses to make salary reduction contributions.
2020 employer contribution limits
  • The employer is generally required to match each employee's salary reduction contributions on a dollar-for-dollar basis up to 3% of the employee's compensation. This requirement does not apply if the employer makes non-elective contributions instead

  • Instead of matching contributions, an employer can choose to make non-elective contributions of 2% of each eligible employee’s compensation. If the employer makes this choice, it must make non-elective contributions whether or not the employee chooses to make salary reduction contributions.
Administrative responsibilities
  • No employer tax filings;
    certain annual employee notifications must generally be made by November 1.
Access to assets
  • Withdraw at any time, but a 10% penalty may apply if you are under age 59½. If the withdrawal is taken within first two years of participation in the plan, that penalty increases to 25%.
Plan setup deadlines
  • Establish by October 1.

Next Steps


Open a SIMPLE IRA


Funding your Forge Trust Account

I Want To…

  • Open An Account
  • Contact Forge Trust
  • Find a Form
  • Learn About Alternative Investments
  • Learn About Forge Trust
  • Facebook
  • LinkedIn
  • Twitter

How Do I…

  • Learn about Advisor Services?
  • Manage My Account?
  • Fund My Account?
  • Know If My Transaction Is Prohibited?
  • Invest In Equity Crowdfunding?

Contact Us

Forge Trust
PO Box 7080
San Carlos, CA 94070-7080

(800) 248-8447
(605) 385-0050
info@ForgeTrust.com
CCPA Requests

IRA Services, Inc., Retirement Planning Service, San Carlos, CA

FORGE TRUST AND FORGE TRUST COMPANY AND THEIR REPRESENTATIVES IS NOT A FIDUCIARY UNDER ERISA AND DO NOT OFFER TAX OR LEGAL ADVICE. DO NOT PROVIDE INVESTMENT ADVICE, DO NOT SELL INVESTMENTS, DO NOT EVALUATE, RECOMMEND, OR ENDORSE ANY ADVISORY FIRM OR INVESTMENTS. INVESTMENTS ARE NOT FDIC INSURED AND ARE SUBJECT TO RISK, INCLUDING THE LOSS OF PRINCIPAL. CLIENTS ARE ADVISED TO PERFORM OR FACILITATE THEIR OWN DUE DILIGENCE WHEN INVESTING. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE LEGAL OR TAX ADVICE AND SHOULD NOT BE CONSTRUED TO APPLY TO ANY INDIVIDUAL PERSON OR SITUATION. EACH PERSON SHOULD CONSULT WITH HIS OR HER OWN PERSONAL TAX ADVISOR, FINANCIAL PLANNER, ATTORNEY OR ACCOUNTANT WITH RESPECT TO SUCH INDIVIDUAL'S SPECIFIC SITUATION AND SHOULD NOT RELY UPON THIS INFORMATION WITHOUT SUCH CONSULTATION.

Terms of Use | Privacy


© Copyright 2008-2021 Forge Trust Company. On this website "Forge Trust" means Forge Trust Company and its affiliates.