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Level 1

How do I pay Simple IRA employer contribution to employees?

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QuickBooks Team

How do I pay Simple IRA employer contribution to employees?

It’s great to see you in the Community, robert53.

To pay the Simple IRA employer contribution to employees, let's set up the payroll item in your company file. Adding it is as easy as 1,2,3.

Here’s how:


  1. Tap the Workers menu on the left panel and choose Employees to view all workers.
  2. From the list, click on the employee’s name to view more details.
  3. On the Employee list page, hit the Pencil icon for Pay to access the Does the employee have any deductions section.
    deduction pay.png
  4. Then, click the Add a new deduction link to open the What deductions or contributions does the employee have page.
  5. Choose New deduction/contribution as the category and Retirement Plans as the Deduction/contribution type.
    deduction pay.1.png
  6. In the Type drop-down, pick Simple IRA.
    deduction pay.2.png
  7. Fill in the field boxes and make sure to key in the correct amount for the contribution.
    deduction pay.3.png
  8. Click OK to save the changes.

Perform the same procedure to assign it to your employees. When creating paychecks, the employer contribution will automatically show on the workers’ payroll information.

For additional resources, check out the Retirement plan deductions/contributions article. It provides an overview of how to assign the payroll item to employees and steps to remove the deduction.

Let me know if you need further assistance while working in QBO. I’m more than happy to help you. Enjoy the rest of the day.

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