Managing SIMPLE IRA PlusSM plans

ARTICLE TAKEAWAYS

  • Determine which requests are allowed by the financial professional, participant, plan sponsor and third-party remitter on a SIMPLE IRA Plus plan
  • Determine whether the request must be completed via phone, on the plan sponsor or participant website or in writing
log in to client accounts




Use this chart to determine who can make a request and whether it can be viewed or completed on the following websites:

Note: Certain requests must be completed via phone or in writing. Financial professionals do not have trading authority on SIMPLE IRA Plus plans and cannot transact or process maintenance on participants’ accounts.

Category

Financial professional2

Plan sponsor

Third-party remitter

Participant

Participant accounts

        

Address, phone and email — view/update1

Yes*

Yes

Yes

Yes

Date of birth — view/update1

Yes*

Yes

Yes

Yes*

Name change

No

No

No

Yes**

Beneficiary — add/update

No

No

No

 Yes

Beneficiary — view

Yes

Yes

Yes

 Yes

Financial professional — view

Yes

Yes

Yes

 Yes

Investment elections — view/update
No

Yes

Yes

 Yes

Balance and transaction history

Yes

Yes

Yes3

 Yes

PIN reset

No

No

No

 Yes

Participant transactions

 

 

 

  
Automatic exchange plan — add/update No No No Yes*
Automatic distribution plan — add/update

 

  

No

  

No

  

No

 Yes*
Exchange/rebalance — add/update No No No Yes
Participant corrections No Yes* Yes* Yes*
Distributions No No No Yes
Statements and tax forms        
Paperless delivery signup No No No Yes
Duplicate participant statement Yes No No Yes
Duplicate tax forms Yes1  Yes1  No Yes
View participant statements Yes Yes No Yes
Plan management        
Address — update Yes* Yes* Yes* No
Bank information — view/update No Yes** No No
Financial professional — update Yes Yes** Yes No
Add participant No Yes Yes No
Plan assets — view Yes Yes Yes No
Plan corrections Yes* Yes* Yes* No
Company name — view/update Yes Yes** Yes No
Company Tax Identification number — update No Yes** No No
Submit roster No Yes Yes No
PIN reset No Yes Yes No
Plan reports        
Trust report — view/request Yes Yes Yes No

 

*Updates can be requested only via phone
**Updates can be requested only in writing

1Available only from “View as Participant” option, after participant has completed registration
2Some financial professionals can have additional access based on plan sponsor agreement
3Third-party remitter can access only a participant's balance, but not their transaction history

Related content

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SIMPLE IRA Plus contributions

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Return to SIMPLE IRA Plus >

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The guidelines and procedures provided in the Account Resource Center may not apply to networked accounts or accounts not directly held by American Funds. The guidelines and procedures provided also apply only to those retirement accounts or Coverdell ESAs invested in American Funds with Capital Bank and Trust Company (CB&T) as custodian. The guidelines and procedures provided in the Account Resource Center do not apply to plans held in our retirement plan solutions — PlanPremier, PlanPremier-TPA or RecordkeeperDirect. Information on the Account Resource Center may change periodically, and previously printed information may not be current. Please refer to capitalgroup.com for the most current information available.

Financial professionals should always contact their back office to determine if there are any restrictions on the use of American Funds products, tools, services, websites and literature.