Simple IRA Roth Contributions in QB Online

Your commitment to understanding the company contribution options in QuickBooks Online is commendable, Genissa. I'm here to provide you with the latest information regarding retirement plan contributions.

QuickBooks Online (QBO) does not support Roth contributions for SIMPLE IRAs introduced by the SECURE Act 2.0. However, it offers several other retirement plan options that you can set up for your employees, including:

• 401(k) / 401(k) catch-up
• Simple 401(k) / Simple 401(k) catch-up
• 403(b) / 403(b) catch-up
• SARSEP / SARSEP catch-up
• After-tax Roth 401(k) / After-tax Roth 401(k) Catch-up
• After-tax Roth 403(b)
• Company-only plan
• SIMPLE 401(k) / SIMPLE 401(k) Catch-up
• SIMPLE IRA / SIMPLE IRA Catch-up

For comprehensive details on these retirement plans, I recommend checking out the article on how to set up or change a retirement plan in QuickBooks: Retirement plans in QBO.

Additionally, consider exploring third-party applications available for managing Roth contributions. This approach allows you to benefit from Roth SIMPLE IRAs while utilizing QuickBooks for payroll and accounting.

Furthermore, I've included these article that guides adding or changing employees' work locations in QBO Payroll to manage payroll and track your employee expenses. You can customize these reports to obtain the necessary information.

• Set up and manage work locations in QBO Payroll
• Run payroll reports
• Customize payroll and employee reports

Keep this discussion handy for future questions about retirement plan setups in QBO Payroll. Our team is here to ensure you have the support you need, and we’re eager to assist you whenever needed.

Does QBO still not support Roth contributions for Simple IRAs introduced by the SECURE Act 2.0? 

Hey there, @Ca47. 

Thanks for reaching out about Roth contributions for Simple IRAs in QuickBooks Online. I understand how helpful that feature would be for your business.
 

While we don't currently offer that specific option, QuickBooks Online does support several other retirement plans to help you manage your contributions:

• 401(k) / 401(k) catch-up
• Simple 401(k) / Simple 401(k) catch-up
• 403(b) / 403(b) catch-up
• SARSEP / SARSEP catch-up
• After-tax Roth 401(k)
• After-tax Roth 403(b)
• Company-only plan
• SIMPLE IRA / SIMPLE IRA Catch-up
   

You can learn more about these options here: Set up or change a retirement plan.

We're always looking for ways to improve. Remember you can share your feedback any time:
 

1. Go to the Gear icon and select Feedback.
2. Enter your comments or product suggestions.
3. Then select Next to submit feedback.

If you have any other questions, please don't hesitate to ask! Have a great Friday!

Hello,

In answering the question you didn't state if QB would in the future.  You suggested third party apps, can you list them with links? 

Thanks

You state that QB currently does not offer this specific option. Do you know when this specific option be available in QB?  Is QB currently working on offering this option? 

Thanks for getting involved with this thread, GoLions2971.

When feedback is submitted about a feature you're interested in seeing in QuickBooks, Intuit's unable to guarantee whether said feature will become available in the future.

Your feedback's definitely valuable to Intuit. It will be reviewed by our Product Development team and considered in future updates. You can stay up-to-date with the latest news about your product by reviewing our Product Updates webpage.

In regard to third party apps, I'm unable to recommend any for you. Instead, you can visit our QuickBooks App Store and search for apps which may be able to help you achieve what you're looking to do.

I've also included a detailed resource about submitting feature requests which may come in handy moving forward: How do I submit feedback?

If there's any additional questions, I'm just a post away. Have an awesome Friday!

I'm curious, why isn't this an easy fix?  Certainly, other changes with Secure Act 2.0 were implemented, like the 60-63 catch-up contributions, so why would this not be available immediately?  

It's kind of a big deal for employees that insist on having a Roth contribution.

@agrossmt  Probably because the other changes, the 60-63 catch-up contributions included, also took months to roll out.

It should be an easy fix, but this community is littered with issues with this topic, and they're probably pretty busy at the moment trying to fix the reports they shattered last week.