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newscarsrugby
Level 1

Can you direct deposit retirement contributions from QBO Payroll to a Fidelity SIMPLE IRA? I have the instructions from the custodian that says it's possible.

 
3 Comments 3
Tori B
QuickBooks Team

Can you direct deposit retirement contributions from QBO Payroll to a Fidelity SIMPLE IRA? I have the instructions from the custodian that says it's possible.

Good morning, @ newscarsrugby. 

 

Currently, QuickBooks Online payroll doesn't offer the option to automatically transfer funds to Fidelity Simple IRA. You'd need to do this outside of QuickBooks Online Payroll. 

 

I recommend checking out, Retirement plan deductions/contributions for more details. 

 

Please let me know if you have further questions or concerns. I'll be happy to help you out every step of the way. You can always reach out to the Community or me anytime you need assistance. Take care! 

donna46
Level 1

Can you direct deposit retirement contributions from QBO Payroll to a Fidelity SIMPLE IRA? I have the instructions from the custodian that says it's possible.

Is this still true?  I can't imagine there isn't some type of plug in.  Ugh.  Quickbooks is just starting to be un-usable. 

 

Archie_B
QuickBooks Team

Can you direct deposit retirement contributions from QBO Payroll to a Fidelity SIMPLE IRA? I have the instructions from the custodian that says it's possible.

Good day, donna46.

 

I understand how beneficial it is to be able to transfer funds directly from QuickBooks Online Payroll to a Fidelity SIMPLE IRA. However, this option is still not available in QuickBooks Online Payroll.

 

That said, you need to process your retirement contribution outside QuickBooks, or look for any third-party application that can help you transfer those funds. 

 

To learn more about retirement plans and contribution limits, you can check out this articles:

 

 

Reach us again if you require assistance with anything or if you have other questions regarding your retirement plans. I'll be here to help you. Take care and have a wonderful day.

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