SIMPLE IRA: Getting Started

Follow these step-by-step instructions to set up your company’s Savings Investment Match Plans for Employees (SIMPLE IRA), or call us at 800-544-5373 for guidance throughout the entire process.

  1. Print, read, and retain copies of the following documents:
  2. Print, complete, and sign the following documents:
  3. Mail the completed originals from Step 2 to:

    Fidelity Investments
    PO Box 770001
    Cincinnati, OH 45277-0038

  4. Keep copies of all forms and documents for your company's plan records.
  5. Once we have received the completed required documents in Step 2, you are ready to enroll your employees. Please see the Enroll Employees tab for more information.
  1. Download, print, customize, and distribute to all eligible employees:

    You are required to provide eligible employees with the Sample Summary Description and Participant Notice on an annual basis (by November 1). Fidelity SIMPLE IRA Plans receive a Summary Description and Participant Notice when the plan is established and annually thereafter in September.

    You are legally required to give all eligible employees at least 60 days to make or modify any salary reductions elections each year.

  2. Have every participating employee print and review the SIMPLE IRA Employee Enrollment Brochure (PDF)
  3. Have every participating employee read, complete, and sign a SIMPLE IRA Application to establish their SIMPLE IRA accounts.
  4. Mail the completed, original forms (not copies) from Step 3 to:

    Fidelity Investments
    PO Box 770001
    Cincinnati, OH 45277-0038

    Fidelity will mail employee enrollment kits after we receive your plan documents.

  5. Have every participating employee complete a Salary Reduction Agreement (PDF) and forward the completed agreement to your payroll vendor or payroll processor. The employer should keep a copy of the employee's elections on file for their records.

If you have any questions, call 800-544-5373 to speak with a Fidelity small business retirement plan associate.

Once you have opened your SIMPLE IRA Plan and employee accounts have been established, the next step is to set up electronic funding for the plan. You have two options:

Option 1: Use Fidelity's Electronic Funding Service, which is available through our Plan Manager site:

Print and review the Using Plan Manager (PDF) guide, then go to Plan Manager to register so that you can make contributions to your plan.

  • For more information on Fidelity Plan Manager, please visit the FAQs

Option 2: Use your external bank or payroll vendor to fund your plan electronically:

Print, review, and provide your bank or payroll vendor with a copy of the Important Information about Your Fidelity SIMPLE IRA Plan (PDF).