Employers: Establish a SIMPLE IRA

A SIMPLE IRA is a low-cost, easy-to-manage plan for self-employed individuals or for businesses with up to 100 employees.

Download and complete the forms, then mail them to T. Rowe Price.

The Information and Services Agreement allows you to establish a SIMPLE IRA Program at T. Rowe Price and establish online account access using T. Rowe Price's Plan Sponsor Web site (PSW).

Complete the IRS Form 5305-SIMPLE and send it to T. Rowe Price. We will sign and return the form to you and your plan will be adopted.

Use IRS Form 5304-SIMPLE if you want to allow employees to select the financial institution for their SIMPLE IRA. Send a copy of the IRS-Form 5304-SIMPLE, along with the Information and Services Agreement, to T. Rowe Price.

Once T. Rowe Price has signed and returned your IRS Form 5305 SIMPLE (or once you complete the IRS Form 5304-SIMPLE), print copies of the Model Notification to Eligible Employees - (pages 3 to 5 of the IRS Form) and distribute to employees along with the Participant Account form and the T. Rowe Price SIMPLE IRA Disclosure and Custodial Agreement.

Employees can also visit the Open a SIMPLE IRA Account Page and download these forms, or contact a T. Rowe Price client representative. However, please note that you are responsible for the distribution of the Model Notification to Eligible Employees.

This form is completed to move an existing SIMPLE IRA to T. Rowe Price. A separate form is required for each participant.

A unique Operator ID will be mailed to you once your application has been processed. It should arrive within 7 to 10 days.

Once you've received your Operator ID and temporary password, you can access Plan Sponsor Web, which allows you to administer your SIMPLE IRA online.

Activate and Set Up