Simple IRA Contribution

Hello-

Client had an old Simple IRA account. They made a contribution directly to the account instead of to a Traditional IRA. I am struggling to find if that is allowed or not. Any thoughts?

Thank you!



A contribution to a SIMPLE IRA cannot be a traditional IRA contribution. Is client self employed or was the old SIMPLE IRA sponsored by a former employer?  If not eligible for a SIMPLE IRA contribution, the contribution will have to removed as an excess contribution. It cannot be recharacterized in any form.



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