Discussion:Whose job is it?
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Discussion Forum Index --> Basic Tax Questions --> Whose job is it?
Discussion Forum Index --> Tax Questions --> Whose job is it?
| 28 January 2008 | |
| On a SIMPLE IRA - the annual notification to eligible employees (Form 5304-SIMPLE Page 3) shouldn't this be provided by the plan provider or designated financial institution (i.e. Smith Barney) rather than me? Page 6 of the 5305-SIMPLE instructions indicates it is the DFI's reponsibility but the DFI agent is saying no.
Any help? | |
| 28 January 2008 | |
| Not 100% sure as I do this for my clients automatically because I do the payroll and manage the plan so I have never actually looked it up. I would say that ultimately it is the owner of the business who is responsible for making sure that all the paperwork is handled. I would think that they would be the party held responsible, however if the DFI or broker wanted to maintain a relationship with the client you would think they would at least remind them of the obligation. | |
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