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Get Summary Description - Fidelity
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How to fill out the Summary Description - Fidelity online
The Summary Description for the Fidelity SIMPLE-IRA plan provides essential details for participants regarding eligibility, contributions, and distributions. This guide will help you navigate the form to ensure you accurately complete each section.
Follow the steps to successfully complete the form.
- Press the 'Get Form' button to obtain the Summary Description and access it for editing.
- Begin with the 'Plan Information' section. Enter the name of your employer and the designated contact person, along with the complete mailing address, including city, state, and ZIP code. Ensure all information is accurate to avoid delays.
- Proceed to the 'Eligibility Requirements' section. Fill in the compensation amounts as applicable, ensuring you adhere to the $5,000 limits. Note any specific eligibility criteria set forth by your employer's plan.
- In the 'Contributions' section, establish your separate SIMPLE-IRA account and specify the amount you wish to elect as Elective Deferrals. Be sure to indicate any percentages of compensation you wish to defer.
- Review the 'Distributions' section. Understand the tax implications and penalties associated with early withdrawals. Complete the necessary forms should you wish to request distributions.
- If applicable, make sure to review the 'Rollovers and Transfers' section. Complete any forms needed for rolling over assets from or to your SIMPLE-IRA as per the guidelines provided.
- Finally, once all areas are filled out, review your entries for accuracy. You can then save your changes, download, print, or share the completed form as needed.
Complete the Summary Description online today to take control of your retirement planning.
A Summary Plan Description (SPD) is a document that employers must give free to employees who participate in Employee Retirement Income Security Act-covered retirement plans or health benefit plans. The SPD is a detailed guide to the benefits the program provides and how the plan works.
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