What you'll need
Opening a Merrill Edge self-directed SIMPLE IRA is easy to do.
You'll need to provide some information including:
- Social Security number and date of birth
- A valid mailing and email address
- Employment information (including company name, address and EIN)
- General financial information (such as annual income and household net worth)
- Names and dates of birth for any beneficiaries
Note: A completed Employer adoption agreement is required. (You should have received this from your employer.) You can upload, fax or mail it to us.
If you have this information, or are an existing client with a user ID and Password you can use to pre-fill your application, you're ready to continue.
If you are moving assets from an employer-sponsored plan, you should understand your rollover choices before proceeding Select to view rollover information
You have choices about what to do with your 401(k) or other type of plan-sponsored accounts. Depending on your financial circumstances, needs, goals and employer plan terms, you may choose to roll over to an IRA or convert to a Roth IRA, roll over a 401(k) from a prior employer to a 401(k) at your new employer, take a distribution, or leave the account where it is. Each choice may offer different investments and services, fees and expenses, withdrawal options, required minimum distributions, tax treatment (particularly with reference to employer stock), and provide different protection from creditors and legal judgments. These are complex choices and should be considered with care. For more information visit our rollover page or call Merrill at 888.637.3343.