By Daily Press staff
Small business owners can now learn virtually everything they need to know about setting up and maintaining IRA-based retirement plans for their employees, thanks to a new, free compact disc from the Internal Revenue Service.
“Individual Retirement Arrangement (IRA) Resource Guide for Small Business Owners and Individual,” contains information about both traditional and Roth IRAs. It also covers IRA-based retirement plans for employers, including simplified employee pensions (SEPs), SIMPLE IRAs, and payroll deduction IRA plans.
The CD is designed to help business owners make the right decisions about setting up a plan that is best for their business, making contributions to the plan, investing funds, and taking distributions. It also explains the rules for keeping those plans in compliance with the law, including methods for correcting errors in plan administration. To help individuals and business owners avoid scams that can threaten their retirement savings, the CD highlights illegal tax schemes related to retirement plans.
Included on the CD are video clips, forms and publications, frequently asked questions, and interactive resources that help learn more about IRAs. It also includes information on the basics of investing retirement savings and checklists for business owners to use in managing their IRA-Based retirement plans.
To get a free copy of the CD, call the IRS toll-free at 1-800-TAX-FORM (829-3676) and ask for publication No. 4395. An online version is available on the newly-revamped “Retirement Plans” section on IRS.gov. In addition, the IRS urges small business owners visiting the Web site to subscribe to Retirement News for Employers, a free quarterly electronic newsletter on retirement plan issues.
Retirement information links: IRA Online Resource Guide — www.irs.gov/ep <http://www.irs.gov/ep> Subscribe to retirement news for employers — http://www.irs.gov/retirement/page/0,,id=122751,00.html
Originally published in the Santa Monica Daily Press print edition on April 28, 2005. Read the original PDF.