SEP Excess Contribution
We have a client that made an excess SEP contribution of $18,750 on 06/29/2016. On 04/14/2017 $6,500 and the associated gains were removed as an excess contribution by the custodian. The tax preparer has now determined that the rest of the contribution is excess and must be removed as well. Can we now remove the remaining $12,250 without any issues with the IRS?
Submitted by Scott Gelbach on Wed, 2017-08-16 16:49