Am I eligible to open a SIMPLE IRA account?

To open a SIMPLE IRA account with IBKR you will need to use the email invitation that your employer sent to you. By using the link in the email invitation your SIMPLE IRA will automatically be associated with the Employer selected Advisor.  Employees are not obligated to participate or may choose to participate without making their own contributions.  All deposits to the accounts are managed by the Employer, except for transfers from existing SIMPLE accounts held at other firms…

The SIMPLE IRA is designed so small businesses (less than 100 employees) may offer their employees a tax advantaged retirement program.  There are no filing requirements for the employer and no initiation or operating costs. 

Note…

SIMPLE IRA accounts can only be funded by contributions made through the Employee Plan Administrator (EPA) account.  Employers will fund their EPA account and then distribute the funds to the SIMPLE IRA employee accounts. EPAs will use their Portal to provide Interactive Brokers with instructions for transferring funds to the employee accounts…

SIMPLE IRA accounts can only be funded by contributions made through the Employee Plan Administrator (EPA) account.  Employers will fund their EPA account and then distribute the funds to the SIMPLE IRA employee accounts.  EPA’s will use their Portal to provide Interactive Brokers with instruction for transferring funds to the employee accounts…