SIMPLE IRA Plus
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Open
Set up a SIMPLE IRA Plus plan
Employer forms
Use these forms to set up a Simple IRA Plus plan, including a plan with Roth salary deferral contributions.
Complete the forms in the SIMPLE IRA Plus Plan Sponsor Guide.Employee forms
Use these forms to enroll eligible employees into the plan.
Complete the SIMPLE IRA Plus Employee Enrollment Guide and SIMPLE IRA Plus Employee Disclosures..png/_jcr_content/renditions/cq5dam.web.1280.1280.png?ch_ck=1631577223000)
For eligibility, funding guidelines and other information about opening a SIMPLE IRA Plus plan, refer to Opening a SIMPLE IRA Plus.
Brochures and enrollment meeting materials
Comparison brochure
Compare the benefits and key features of SIMPLE IRA and SIMPLE IRA Plus plans to determine which option is best for your client.
Review the Understand your SIMPLE IRA options brochure.SIMPLE IRA Plus single sheet
Use this single sheet to provide an overview of the SIMPLE IRA Plus plan setup and enrollment process.
Review the It is easy to set up a SIMPLE IRA Plus plan single sheet.Enrollment meetings
Use the SIMPLE IRA enrollment video and follow these additional steps:
- Schedule the meeting, then allow a 60-day enrollment period
- Provide employees with the SIMPLE IRA Plus Employee Enrollment Guide, SIMPLE IRA Plus Disclosure Statement (located within the guide) and prospectuses
- Collect the completed SIMPLE IRA Plus Enrollment/Change forms located within the guide and return to the plan sponsor
These materials are also available to use:
- Small steps can take you far enrollment guide
- Plan your journey to retirement presentation
View the SIMPLE IRA enrollment video.For an easy, step-by-step guide to setting up a SIMPLE IRA Plus plan, visit Set up a SIMPLE IRA Plus plan.
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Update
Update participant’s personal information
Update participant’s name
Use this form and submit with supporting documentation. See the form for requirements.
Complete the Name Change Request.
Update participant’s contact information
The participant can update their contact information online through the participant website.
Refer the participant to the Retirement Planning Center.Update participant’s beneficiary information
The participant can update beneficiaries online through the participant website by clicking Add/Update Beneficiaries in the Actions drop-down menu.
Refer the participant to the Retirement Planning Center.
If the participant has experienced a major life event, visit Life events for checklists to assist with account updates they may need to consider.
Update plan information
Update plan contact and address
Use this form to update or remove plan contacts.
Complete the SIMPLE IRA Plus Change of Contact Information form.
Update financial professional
Use this form to change the financial professional and/or update advisory fee payment instructions.
Complete the SIMPLE IRA Plus Financial Professional or Fee Change Request.Change funds or the share class of the plan
Use this form to add, remove or replace funds, change the default fund or change the share class.
Complete the SIMPLE IRA Plus Change of Funds or Share Class form.
Change employer bank information
Use this form to update the bank information on file for salary deferral and employer contributions.
Complete the SIMPLE IRA Plus Bank Change Request.For additional information on which requests are allowed by the financial professional, participant or plan sponsor and how they can be completed, visit Managing SIMPLE IRA Plus plans.
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Transact
Contributions
Payroll deduction contributions
Use this form to set up salary deferrals or make changes to an existing deferral amount. Completed forms should be returned to the plan sponsor.
Complete the SIMPLE IRA Plus Enrollment/Change form.
Employer contributions
Contributions must be submitted though the Plan sponsor website. Once a new plan is established, the employer or plan administrator is provided with their user ID and instructions for submitting contributions.
Use the SIMPLE IRA Plus Website user guide for plan sponsors and administrators for assistance.
Visit SIMPLE IRA Plus contributions for additional details about contribution limits, deadlines and more.
Distributions
Take a one-time distribution
The participant can complete a distribution online through the participant website.
Refer the participant to the Retirement Planning Center.
Set up automatic distributions
Use this form to set up automatic distributions.
Complete the IRA Automatic Distribution Request.Take a one-time or recurring required minimum distribution (RMD)
An RMD must be taken from employer-sponsored retirement accounts and IRAs once the participant reaches the age of 73. Use this form to request the distribution.
Complete the Required Minimum Distribution (RMD) Request.Refer to SIMPLE IRA Plus distributions for additional details about distributions, RMDs and more.
Exchanges and rebalances
Complete a one-time exchange or rebalance
The participant can complete an exchange or rebalance online through the participant website.
Refer the participant to the Retirement Planning Center.Transfers and rollovers
Move an external IRA or qualified plan to a SIMPLE IRA Plus at American Funds
Once the participant has met the two-year participation requirement, use this form to request a transfer or direct rollover from an external IRA or qualified plan to a SIMPLE IRA Plus at American Funds.
Complete the SIMPLE IRA Plus Request for Transfer of Assets or Direct Rollover.Move from an American Funds SIMPLE IRA Plus to another IRA or qualified plan
Once the participant has met the two-year participation requirement, use this form to request a rollover or transfer from an existing American Funds SIMPLE IRA Plus to another financial institution or to another American Funds IRA.
Complete the IRA Rollover/Transfer Request.Review IRA incoming transfer and rollover guide and IRA outgoing transfer and rollover guide for additional details about transferring and rolling funds into and out of Capital Group.
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Contact us
Have questions or need additional support?
Contact us 8:00 a.m. to 7:00 p.m. ET, Monday through Friday.
For financial professionals only. Not for use with the public.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Use of this website is intended for U.S. residents only.
The guidelines and procedures provided in the Account Resource Center may not apply to networked accounts or accounts not directly held by American Funds. The guidelines and procedures provided also apply only to those retirement accounts or Coverdell ESAs invested in American Funds with Capital Bank and Trust Company (CB&T) as custodian. The guidelines and procedures provided in the Account Resource Center do not apply to plans held in our retirement plan solutions — PlanPremier, PlanPremier-TPA or RecordkeeperDirect. Information on the Account Resource Center may change periodically, and previously printed information may not be current. Please refer to capitalgroup.com for the most current information available.
Financial professionals should always contact their back office to determine if there are any restrictions on the use of American Funds products, tools, services, websites and literature.