Sep IRA switch to defined benefit
A 53 yr old solopreneur is having a big year and has traditionally used a sepira as his retirement plan. He has already made max contribution to the sep for 2023 but has recently learned of defined benefit plans which allow for much higher deductions. However the sepira plan isnt compatible with a defined benefit program. He wants to reverse the contribution. What is the best way to do so without penalty.
Submitted by Peter Doherty on Tue, 2023-11-21 02:51