Hello! My client jumped the gun and made a 2023 SEP contribution even though we were in the process of opening an Individual (k). I have to now complete an excess contribution form to reverse this. The question is: On the form there is a section asking whether or not this is being corrected via the Employee Plans Compliance Resolution System (EPCRS) under EPCRS, Rev/Proc. 2013-12? He is the employer/only employee. Should we correct it under EPCRS or does it matter? Does the excess contribution count as “insignificant” and are there any repercussions to reporting in this manner? Thanks!