We present high-quality angle-resolved photoemission (ARPES) and density functional theory calculations (DFT+U) of SmCoIn₅. We find broad agreement with previously published studies of LaCoIn₅ and CeCoIn₅, confirming that the Sm 4f electrons are mostly localized. Nevertheless, our model is consistent with an additional delocalized Sm component, stemming from hybridization between the 4f electrons and the metallic bands at “hot spot” positions in the Brillouin zone. The dominant hot spot, called γz, is similar to a source of delocalized f states found in previous experimental and theoretical studies of CeCoIn₅. In this work, we identify and focus on the role of geometric frustration in exploring the relationship between heavy quasiparticles and the magnetically ordered ground state of SmCoIn₅. Specifically, we find a globally flat band consisting of Co 3dxy/3dz2 orbital states near E = −0.7 eV, indicating a general role for geometric frustration in the “115” family of materials. We also show that the delocalized Sm 4f states can hybridize directly with the Co 3dxz/3dyz orbitals, which occurs in our model at the Brillouin zone boundary point R in a band that is locally flat and touches the Fermi level from above. Our work identifies microscopic ingredients for additional magnetic interactions in the “115” materials beyond the RKKY mechanism, and strongly suggests that the Co d bands are an important ingredient in the formation of both magnetic and superconducting ground states.