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Form 5305-SIMPLE online Columbus Ohio: What You Should Know

A plan sponsor may require this before all contributions are placed in the SIMPLE IRA. • The plan sponsor may place initial deposits of the money in the SIMPLE IRA directly into the IRA, or into other investment accounts, or any combination of the above. • The plan sponsor can also require a cash deposit, including a bank check or money order; an electronic wire transfer; or a wire transfer via wire transfer services provided by the bank, broker, or financial institution. • The plan sponsor may require a deposit from another investment account.

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