SIMPLE IRA for Small Business Owners

If you have 100 or fewer employees, a Savings Incentive Match Plan for Employees (SIMPLE) IRA is a cost efficient, easy-to-manage way to contribute toward your employees' — and your own — retirement.

Take advantage of tax breaks for you and your employees

Contributions made by your business are generally tax deductible by the business. You may also benefit from a tax credit of up to $500 for 3 years.Footnote ¹ Tax-deferred contributions made by employees — including you — have the potential to grow tax free until withdrawn at retirement.

Attract and retain valued employees with high contribution limits

Employees can make pre-tax contributions up to $12,500 ($15,500 if age 50 or older) annually, more than twice as much as a Traditional IRA.Footnote ² For details, read the SIMPLE IRA fact sheet (PDF).

Choose from a full range of investment choices

You and your employees can access a full range of investment choices, including stocks, bonds, options, ETFs and well-known mutual funds. You may also consider a savings IRA from Bank of America, N.A. Learn more about investment choices

59%

of small business employees say they'd likely take a job with slightly lower pay but better benefits.Footnote ³

Pricing and fees

Account fees

Setup fee:

Annual administrative fees:

Merrill Edge offers participants simple, flat-rate pricing of $6.95Footnote ⁴ per online stock and ETF trade.* If you're a sole proprietor, learn how to qualify for $0 trades learn how to qualify for $0 trades.Footnote ⁴

*Other fees may apply. Sales are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs. To learn more about Merrill Edge pricing, visit merrilledge.com/pricing.

Get started

Open a SIMPLE IRA in 3 easy steps

Open your account

It takes just minutes to set up your plan and account. Your employees will set up their own, and there are no program or administrative fees for accounts opened online.

Make contributions

Fund your and your employees' accounts using Merrill Lynch E-Contribs for Small Business Retirement Accounts™ — a free, web-based solution for making contributions. No paperwork to complete. No checks to write. No postage to pay. Go to E‑Contribs

Start investing

Create an investment strategy
Build a balanced portfolio aligned to your investment goals.

Read "3 simple steps to building a balanced portfolio"

Find the right investments
Choose from a full range of stocks, bonds, options, ETFs and well-known mutual funds — all with simple flat-rate pricing. Narrow your investment choices with our easy-to-use screening tools.

View investment choices

Manage your portfolio
Access your new Merrill Edge investing account 24/7 — online and on your mobile device.

Get the mobile app

Open a SIMPLE IRA Open a SIMPLE IRA

FAQs

Who contributes to a SIMPLE IRA?

How much are employers required to contribute?

What are the employee contribution limits?

Who is eligible to participate in a SIMPLE IRA?

See all SIMPLE IRA FAQs

More about small business retirement plans

Employer

Small Business 401(k)

SEP IRA

Self employed

Individual 401(k)

SEP IRA

Compare self-employed plans

Let us help you find your best options

Recognized for excellence

An outstanding customer service experience

Merrill Edge has been recognized by J.D. Power by providing "An Outstanding Customer Service Experience" for Phone support for 8 years in a row.Footnote ⁵

One of the best online brokers

Merrill Edge received 4 out of 5 stars from Barron's 2018 Best Online Brokers Survey for 5 years in a row (2014, 2015, 2016, 2017, 2018).Footnote ⁶

More about small business retirement plans

Employer

Small Business 401(k)

SEP IRA

Self employed

Individual 401(k)

SEP IRA

Compare self-employed plans

Let us help you find your best options

Need help setting up your plan?

Call 855.667.9451855.667.9451

Mon-Fri 9 a.m. - 8 p.m. ET to speak with a Financial Solutions Advisor

Find a local
Financial Solutions
Advisor

Important disclosures

Footnote ¹ For more information, visit www.irs.gov/retirement-plans/retirement-plans-startup-costs-tax-credit www.irs.gov/retirement-plans/retirement-plans-startup-costs-tax-credit.

Footnote

Contribution and compensation limits are subject to a cost-of-living adjustment annually pursuant to the Internal Revenue Code. Contribution and compensation limits for subsequent years may vary.

Footnote ³ Aflac Workforces Report, April 2015.

Footnote ⁴ $0 trades are only available with an individual or joint Merrill Edge self-directed brokerage account. When placing a trade, Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) determines whether you meet the balance or relationship requirements to qualify that trade for the $0 waiver. To determine the number of qualifying trades, MLPF&S adds the qualifying trades in your individual accounts and joint accounts. Commission fees apply when qualification requirements are not met, or when you exceed the number of qualifying trades a month. Brokerage fees associated with, but not limited to, margin transactions, option trading, special stock registration/gifting, account transfer and processing, research request and termination apply.

Footnote

J.D. Power 2018 Certified Contact Center Program^SM recognition is based on successful completion of an evaluation and exceeding a customer satisfaction benchmark through a survey of recent servicing interactions. For more information, visit www.jdpower.com/ccc. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.

Footnote

Merrill Edge was one of 19 brokers evaluated in the Barron's 2018 Best Online Broker Survey, March 26, 2018. Barron's evaluated firms in—Trading Experience & Technology, Usability, Mobile, Range of Offerings, Research Amenities, Portfolio Analysis & Reports, Customer Service, Education, Security and Costs-to rate the firms. Merrill Edge earned the top overall score of 32.7 out of a possible 40. Learn more at http://webreprints.djreprints.com/54692.html. Barron's is a trademark of Dow Jones & Co., L.P. All rights reserved. Reprinted with permission of Barron's. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.

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Expense Ratio – Gross Expense Ratio is the total annual operating expense (before waivers or reimbursements) from the fund's most recent prospectus. You should also review the fund's detailed annual fund operating expenses which are provided in the fund's prospectus.

Neither Merrill Lynch nor any of its affiliates or financial advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

Merrill Edge, available through Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S"), consists of Merrill Edge Advisory Center (investment guidance) or self-directed online investing.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation ("BofA Corp.").

Merrill Lynch Life Agency Inc. and MLPF&S, a registered broker-dealer and Member Securities Investor Protection Corporation (SIPC), are wholly-owned subsidiaries of BofA Corp.

Investment products offered through MLPF&S and insurance and annuity products offered through Merrill Lynch Life Agency Inc.:

Are Not FDIC Insured	Are Not Bank Guaranteed	May Lose Value
Are Not Deposits	Are Not Insured by Any Federal Government Agency	Are Not a Condition to Any Banking Service or Activity

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SIMPLE IRA