Joe & Fred own AAAA Group, which is a LLC. They own this company 50/50 and they provide management, operating, and financial services. Both Joe & Fred are paid by a K1.

AAAA Group owns – 50% of BBBB. BBBB operates three medical clinics

AAAA Group owns 50% of CCCC. CCCC is an outpatient clinic

AAAA Group owns 50% of DDDD. DDDD is an inpatient clinic

Joe and Fred are also w2 employees of EEEE, a laboratory business. Joe is buying 60% ownership of this business and Fred owns 5% of the business.

Joe also owns FFFF, a distribution company for medical widgets. Joe owns 100% of this company. FFFF does not have any affiliation to the companies above and does not do any business with the companies above.

Can Joe set up a SEP IRA for only business FFFF and not include the other entities and ONLY make a contribution for himself based on FFFF profits?