<https://benefitslink.com/boards/topic/64577-multiple-simple-vendors/>
<http://schema.org/text>
"Let me start by saying that I don't work on SIMPLEs - this was a call I took from a desperate advisor, and while I told the advisor that I don't know the answer (and he is now going to check with the company's accountant), now I am genuinely curious...  \n\tA small business has a SIMPLE, and all participants have signed on to have their SIMPLE accounts through one financial firm (let's say Merrill Lynch).  Now one participant brings in paperwork that says he wants to open his SIMPLE account somewhere else instead.  Does the plan sponsor have the authority to limit where the accounts are?  From what I can see, I don't think so, unless maybe the SIMPLE document is specifically a SIMPLE document from ML that specifies that all accounts will be held there... and even then, I'm not sure that would hold up.  Am I even in the right ballpark?\n "
<https://benefitslink.com/boards/topic/64577-multiple-simple-vendors/>