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Publication 3998 Rev 6 Choosing a Retirement Solution for Your Small Business Form
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People also ask
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How do I set up a retirement plan for my business?
How to set up a 401k for a small business Create a 401(k) plan document. Create a plan document that complies with IRS Code and outlines the details of your retirement plan. ... Set up a trust to hold the plan assets. ... Maintain records of 401(k) employee contributions and values. ... Provide information to plan participants. -
Which of the following retirement plans is designed for small businesses?
These are: 401(k) plans, SEP IRAs and SIMPLE IRAs. -
What is the best retirement plan for a business owner?
An IRA is probably the easiest way for self-employed people to start saving for retirement. There are no special filing requirements, and you can use it whether or not you have employees. -
Can a small business set up a pension plan?
Small businesses may choose to offer IRAs, defined contribution plans, or defined benefit plans. Many financial institutions and retirement plan practitioners make available one or more of these retirement plans that have been pre-approved by the IRS.
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