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¹ Tax-deferred contributions made by employees — including you — have the potential to grow tax free until withdrawn at retirement.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 $13,000 ($16,000 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 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 pop up 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. Learn more about Merrill pricing

Get started

Open a SIMPLE IRA in 3 easy steps

One 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.

Two 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

Three 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 investing account 24/7 — online and on your mobile device.

Get the mobile app

Employers set up your SIMPLE Plan Employers set up your SIMPLE Plan

Employees open your Self-directed 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

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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

One of the best online brokers, receiving 4 out of 5 stars six years in a row (2014, 2015, 2016, 2017, 2018, 2019).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

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Important disclosures

Footnote ¹ For more information, visit Retirement Plans Startup Costs Tax Credit on the IRS website 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 J.D. Power popup. 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. Participation in this survey was paid for by Merrill Lynch.

Footnote

Merrill was one of 14 brokers evaluated in the Barron's 2019 Best Online Broker Survey, February 22, 2019. Barron's evaluated firms in — the trading platform, usability, mobile, research, education, news, information, international offerings and retirement/divided-related services—to rate the firms. Merrill earned an overall score of 28 out of a possible 50. All costs assume customer has a minimum of $100,000 in assets with broker. Occasional Trader: six stock and two options trades per month. Assumes customer qualifies for 100 $0 stock trades per month through Preferred Rewards Platinum Honors. If not, occasional fee is $70.60 per month. Learn more at Who Are 2019's Best Online Brokers? popup Barron's is a trademark of Dow Jones & Co., L.P. All rights reserved. Reprinted with permission of Barron's. Rankings and recognition from Barron's are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement.

ARYDYPDR-EXP081619

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Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining markets.

Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, a registered investment adviser, Member Securities Investor Protection (SIPC) popup and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp").

Merrill Lynch Life Agency Inc. (MLLA) is a licensed insurance agency and wholly owned subsidiary of BofA Corp.

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

Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:

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

Merrill Edge Self-Directed was ranked 5 out of 10 online brokers by Kiplinger's Personal Finance's "Best Online Brokers," survey August 2019. To be included, firms had to offer online trading of stocks, ETFs, funds and individual bonds. Results based on ratings in the following categories: commissions and fees, investment choices, mobile app, tools, research, advisory services and user experience. Learn more at Kiplinger's Personal Finance popup, August 2019 © 2019 The Kiplinger Washington Editors. Used under License. Merrill provides access to research from BofA Merrill Lynch Global Research, CFRA (powered by S&P Global), Morningstar and others. Rankings and recognition from Kiplinger's are no guarantee of future investment success and do not ensure that a current or prospective client will experience a higher level of performance results and such rankings should not be construed as an endorsement.

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining markets.

The performance data contained herein represents past performance which does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. For performance information current to the most recent month end, please contact us.

Net Asset Value (NAV) returns are based on the prior-day closing NAV value at 4 p.m. ET. NAV returns assume the reinvestment of all dividend and capital gain distributions at NAV when paid.

Market price returns are based on the prior-day closing market price, which is the average of the midpoint bid-ask prices at 4 p.m. ET. Market price returns do not represent the returns an investor would receive if shares were traded at other times.

Returns include fees and applicable loads. Since Inception returns are provided for funds with less than 10 years of history and are as of the fund's inception date. 10 year returns are provided for funds with greater than 10 years of history.

Before investing consider carefully the investment objectives, risks, and charges and expenses of the fund, including management fees, other expenses and special risks. This and other information may be found in each fund's prospectus or summary prospectus, if available. Always read the prospectus or summary prospectus carefully before you invest or send money. Prospectuses can be obtained by contacting us.

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.

Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

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. (MLLA) is a licensed insurance agency and wholly owned subsidiary 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

Merrill A Bank of America Company Merrill A Bank of America Company

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SIMPLE IRA