Replace a SIMPLE IRA with a 401(k)

Steps to Get Started

If you want to have a 401(k) plan ready for the start of 2024, there are a few things you’ll need to do:

Step 1

Fill out the form below and talk to a member of our team. We’ll help you begin the process of replacing your SIMPLE IRA.

Step 2

Then, you'll give participants a notice prior to November 2nd that no new contributions will be made to the IRA after 12/31/23.

Step 3

You'll work one-on-one with a member of our team to custom-design your 401(k) plan. We'll ensure your plan is ready to go by January 1, 2024!

What Our customers are saying

"I could not be happier with the service Employee Fiduciary provides our small company of 15 employees. They made the initial set up of our 401(k) painless and easy."

- Tom | Business Owner

“We have been very pleased with Employee Fiduciary. They’re responsive and great at demystifying 401(k) management. The fee structure is low-cost and transparent and they offer a broad range of investment options. They’ve worked very well for us.”

Steve | Business Owner

“Employee Fiduciary offers an outstanding product in its plan design and retirement plan administrative services, and manages to do so while providing top-level service and responsiveness at industry-leading low costs.”

Daniel | Business Owner

Have questions about replacing a SIMPLE IRA with a 401(k)?

Read our help articles below to learn everything you need to know about replacing a SIMPLE IRA with a 401(k) for 2024.

Replacing a SIMPLE IRA with a 401(k) – Frequently Asked Questions

Replacing a small business SIMPLE IRA with a 401(k) is not a complicated process, but it does require planning. Our FAQ can help the process go smoothly.

401(k) vs SIMPLE IRA: Which is Right for Your Business?

401(k) or SIMPLE IRA? The kind of plan you pick could have an enormous impact on the finances of everyone involved in your business. Choose wisely.

A Simple Guide for Meeting 401(k) Fiduciary Responsibilities

Meeting 401(k) fiduciary responsibilities does not need to be scary or time-consuming for small business plan sponsors. Following some simple guidance is the key.

Replace your SIMPLE IRA with a 401(k) for 2024