Managing SIMPLE IRA Plus plans

ARTICLE TAKEAWAYS

  • Determine which requests are allowed by the financial professional, participant, plan sponsor and third-party remitter on a SIMPLE IRA Plus plan
  • Determine whether the request must be completed via phone, on the plan sponsor or participant website or in writing
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Use this chart to determine who can make a request and whether it can be viewed or completed on the following websites:

Note: Certain requests must be completed via phone or in writing. Financial professionals do not have trading authority on SIMPLE IRA Plus plans and cannot transact or process maintenance on participants’ accounts.

Category

Request

Financial professional1

Plan sponsor

Third-party remitter

Participant

Participant accounts

Address, phone and email — view/update2

Yes3

Yes

Yes

Yes

Date of birth — view/update2

Yes3

Yes

Yes

Yes3

Name change

No

No

No

Yes4

Beneficiary — add/update

No

No

No

Yes

Beneficiary — view

Yes

Yes

Yes

Yes

Financial professional — view

Yes

Yes

Yes

Yes

Investment elections — view/update

No

Yes

Yes

Yes

Balance and transaction history

Yes

Yes

Yes5

Yes

PIN reset

No

No

No

Yes

Participant transactions

Automatic exchange plan — add/update

No

No

No

Yes3

Automatic distribution plan — add/update

 No

 No

 No

Yes3

Exchange/rebalance — add/update

No

No

No

Yes

Participant corrections

No

Yes3

Yes3

Yes3

Distributions

No

No

No

Yes

Statements and tax forms

Paperless delivery signup

No

No

No

Yes

Duplicate participant statements

Yes

No

No

Yes

Duplicate tax forms

Yes2 

Yes2 

No

Yes

View participant statements

Yes

Yes

No

Yes

Plan management

Address — update

Yes3

Yes3

Yes3

No

Bank information — view/update

No

Yes4

No

No

Financial professional — update

Yes

Yes4

Yes

No

Add participant

No

Yes

Yes

No

Plan assets — view

Yes

Yes

Yes

No

Plan corrections

Yes3

Yes3

Yes3

No

Company name — view/update

Yes

Yes4

Yes

No

Company Taxpayer Identification Number — update

No

Yes4

No

No

Submit roster

No

Yes

Yes

No

PIN reset

No

Yes

Yes

No

Plan reports

Trust report — view/request

Yes

Yes

Yes

No

 

1 Some financial professionals can have additional access based on plan sponsor agreement.
2 Available only from View as Participant option, after participant has completed registration.
3 Updates can be requested only via phone.
4 Updates can be requested only in writing.
5 Third-party remitter can access only a participant’s balance, not their transaction history.

Related content

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SIMPLE IRA Plus contributions
SIMPLE IRA Plus distributions

Return to SIMPLE IRA Plus >

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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.