Excess SEP contributions

A sole proprietor with no employees overcontributed to his SEP IRA in 2006. Can the excess contribution be carried over to 2007 and used as a SEP contribution in 2007? Can it also be used as a Traditional IRA contribution? If so, how should the Form 5329 be completed in 2007? Thanks for any advice.



See the Q & A here http://www.retirementdictionary.com/FAQ-SEP-IRA-Excess-Contributions.htm

Please post any follow-up questions

Add new comment

Log in or register to post comments