Financial institutions empowered to maintain and invest contributions to simple contributions to the IRA system include banks, savings banks and credit unions, insurance companies, certain regulated investment companies, credit unions and state-insured brokerage firms. SIMPLE PLAN IRA Contributions can be invested in stocks, investment funds and other similar types of investments. The investment options available in the institute where the SIMPLE IRA is located determine the types of investment decisions available to the employee when making decisions regarding the investment of his IRA SIMPLE accounts. The acceptance agreement and the IRA`s plan document specify the plan`s annual contribution limits, eligibility requirements, and the type of investment prohibited (e.g. B collectibles) and the amounts that can be invested, how and when account funds can be deducted, rules on necessary distributions, allocation of employer contributions, the conditions under which the account can be transferred, what happens with the account if the owner (depositor) dies, and what fees and expenses are related to the plan. An IRA agreement and adoption document is a contract between the owner of the IRA and the financial institution in which the account is held. The IRA acceptance agreement and plan document must be signed by the account holder before the individual pension account (IRA) can be valid. It contains basic personal information about the account holder, z.B. An address, date of birth and social security number, and sets out detailed rules for the pension account. An account holder should enter into an IRA adoption agreement for traditional and roth-IRA, as well as training savings accounts and health savings accounts (HSA). Such an agreement is also reached for qualified plans, simple IRAS, IRAS MS and a large number of employer-sponsored retirement plans. The Internal Revenue Service (IRS) provides information guides and forms for the introduction of the Ira and the documentation of the plan in the form 5305. An IRA adoption agreement must be accompanied by a background document explaining how a plan will work.