Your SIMPLE-IRA account may buy or exchange any fund as long as the minimum initial and subsequent investment limits are met. To be eligible for ongoing SIMPLE-IRA salary deferrals or employer contributions, however, a fund must waive the investment minimums for SIMPLE-IRA customers. See a list of eligible Fidelity Funds and no load and no transaction fee funds from other well known fund companies.

Employers having 100 employees or less and who do not maintain another retirement plan are eligible to establish a SIMPLE IRA. For more information on "eligible employees", reference IRS Publication 590 or IRS Publication 560. See similar questions...

The basic investment vehicle for each of these plans is an IRA, and the investment restrictions apply equally to all types of IRAs. See similar questions...

Generally speaking, you are eligible for a SIMPLE-IRA as long as your business has fewer than 100 employees earning $5,000 or more in the preceding year. As you grow, other retirement plans may become more appropriate. Please contact a Fidelity Retirement Specialist at 800-544-5373 for more information. See similar questions...

Distributions from a traditional IRA can be made penalty-free at 59½, and minimum required distributions begin the year you turn 70½. You can also take withdrawals from a Roth IRA once you are 59½, as long as the account has been in existence for at least five years. Unlike traditional IRAs, there are no required distributions with a Roth. In most instances, if withdrawals are made before age 59½, there is a 10% early distribution penalty. See similar questions...

Salary deferral contributions may be made up to 100% of compensation (not to exceed $10,000 for 2006 and $10,500 for 2007 for investors under age 50, $12,500 for 2006 and $13,000 for 2007 for investors age 50 and over). Match employee contributions dollar for dollar up to 3% of compensation to a maximum $10,000 for the 2006 plan year and $10,500 for the 2007 plan year, $12,500 for investors 50 years old or older in 2006 and $13,000 in 2007. See similar questions...

The deadline for SIMPLE contributions is the tax filing deadline of the company, including extensions. For a previous year contribution, the SIMPLE plan must have been established by October 1 of the year for which the contribution is being made. For Agents and Brokers | Insurance Forums | About Us | Privacy/Legal | Contact Us | Site Map | Site Menu See similar questions...

Most mutual funds companies and brokerages will set up IRAs, and thus all funds available through the company are available in such an IRA. If you don't have a brokerage or mutual fund IRA, I suggest you move your IRA money to one, for best use of the FTI System. See similar questions...

Most funds have a bank or trust company arranged to be an IRA custodian for any IRA shareholders. If you buy the fund directly, using this custodian, you must use a different application available from the fund company. See similar questions...

In general, withdrawing your IRA prior to age 59 ? means you'll have to pay a 10% early withdrawal penalty. You may avoid the penalty if you're withdrawing because of: See similar questions...

Any person who has not reached yet seventy five (75) years of age who receives “compensation,” that is, income from wages, salary, professional services, occupational income, selling commissions, tips or self-employment from sources within Puerto Rico and who is a resident of the Commonwealth of Puerto Rico. Compensation does not include interests, dividends, rents, royalties, income from child support or capital earnings or any other income that does not come from employment. See similar questions...

Effective starting in 1998, $500 per year can be contributed to an Education IRA from which distributions used to pay for qualified educational expenses are not taxable. The contribution, however, is not deductible. For those filing as single, the contribution is phased out once AGI exceeds $95,000. For joint filers, the contribution is phased out once AGI exceeds $150,000. Many families find themselves in the same boat. See similar questions...

Yes, a non-working spouse is eligible to open either a traditional or Roth IRA with a maximum contribution of $4,000 in 2007. See similar questions...

There are no prohibitions on distributions from IRA-based plans. A participant can take distributions at any time. However, in addition to the distribution being taxable, it may be subject to a 10% additional tax if the participant has not reached age 59 1/2. If the distribution is taken in the first 2 years of participation in a SIMPLE IRA plan, the additional tax is increased to 25%. See similar questions...

eligible investment MUST meet each of the following: 1) Is made after a business is certified as a Qualified New Business Venture (QNBV) 2) Must be clearly identifiable as a cash investment 3) The investor must be an eligible investor 4) The investment must be or have been converted into common stock, a partnership or membership interest, preferred stock or an equivalent ownership interest that is acceptable to Commerce. See similar questions...

In an employer sponsored retirement plan like a 401(k) or 457 the employer usually determines the investment options of the plan. With an IRA, the account owner may determine the universe of investment options. Some examples of investment choices include annuities, exchange traded funds, bonds, individuals stocks and certificates of deposit. See similar questions...

Even though the money owed to you and/or your IRA represents a claim in a bankruptcy estate, the IRS provides different tax treatment for IRA investments and/or distributions from such IRA investments. It is critical that you identify your claim as IRA investment if your investment was originally recorded as an IRA contribution. See similar questions...

You must complete the conversion within 60 days. Because Tax penalties can be assessed if not handled properly, we recommend that you check with a North Shore Bank Investment Advisor or your tax advisor before initiating this type of transaction. No. Unlike with traditional IRAs, which require distributions to begin at age 70, your earnings can continue to grow in a Roth IRA until you need them. See similar questions...

The spouse is the only beneficiary who has this option. You may want to consult an attorney or financial advisor prior to making any elections with respect to an inherited IRA. See similar questions...