Skip to main content
March 16, 2023
Question

Is a 408p SIMPLE plan the same as a traditional IRA?

  • March 16, 2023
  • 1 reply
  • 0 views
SIMPLE vs traditional IRA

1 reply

Employee
March 16, 2023

A SIMPLE IRA is a special type of traditional IRA specifically for receiving deposits from an employer that has a SIMPLE IRA plan.  A SIMPLE IRA has several additional restrictions beyond those associated with an ordinary traditional IRA.