WealthRabbit Support
Need Help? We've got you covered
Get answers to all your questions about the application process and SIMPLE IRA here
What is the difference between 5304 & 5305 Forms?
Both Form 5304 and Form 5305 are IRS model forms used by employers to establish a SIMPLE IRA plan. Form 5304-SIMPLE is used when employees choose their own financial institution to hold their SIMPLE IRA funds.
Form 5305-SIMPLE is used when the employer selects the financial institution for all employees’ accounts.
Need more help?
Get in touch with our dedicated support team Contact Us
