SEP Contributions
My client is currently taking RMDs from his SEP (age 73). He is asking if he can still contribute to the SEP. I think not. Can someone confirm this?
My client is currently taking RMDs from his SEP (age 73). He is asking if he can still contribute to the SEP. I think not. Can someone confirm this?
Permalink Submitted by Alan - IRA critic on Wed, 2021-09-29 23:04
Client can contribute to the SEP IRA, but must also take RMDs on the SEP value. Actually, since the Secure Act went into effect in 2020 eliminating the age limit for TIRA contributions, there are no types of plans left with contribution age limits.