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Form 5305-S for Tampa Florida: What You Should Know
The amount of the match to be paid to the participant should not exceed 5,000. You will also be required to pay to Aspire a 15 non-refundable Form 5305-S fee. 2. In the “Instructions to Form 5305-S Participant” area of the form follow all instructions to complete the form. 3. Fill out the “Additional Information” section below by filling out the additional information box. 4. You may submit this form by mail. Send the completed form to: Internal Revenue Service P. O. Box 2450 Tampa, FL 33 If the participant is a family member of an eligible individual, include a signed notice from the person providing the benefit with the completed form. If you are an individual and are filing this form on behalf of a family member or a business entity using Form 5305-S to establish the savings incentive match, the Form 5305-S may be made an integral part of your Forms 1040-NR and 1040A Forms 1041, 1045, and 1049 or 1067 form. If you are an entity that wishes to establish such an incentive match and this form is filed with this form, make it incorporated with the Form 1040 or Form 1040A Form 1041 (or Form 1045 or 1067) and include the Form 5305-S as part of that form. 5. The participant making his or her first contribution to a SEP IRA under the SEP IRA Plan will be required to pay the 15 non-refundable Form 5305-S fee. It is important to make this payment. If the participant has already received his or her SEP IRA contribution but is not required to file Form 5305-S to begin investing, then the first contribution to the SEP IRA must also be made in cash. If the participant is required to wait one year from now before filing Form 5305-S, any contribution of 500 or more that exceeds the amount of the SEP IRA account balance that the participant will receive in 2024 and 2024 may not be included in the Form 5305-S year-end balance. You must make this investment by the next December 31st. In addition, the Form 5305-S participant must use his or her tax-exempt income for the plan year to calculate the contribution.
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