keogh to sep ira transfer

Submitted by Eric Drossner on Tue, 2010-11-30 20:03

As custodian are there any issues to be aware of when transfering a Keogh into a SEP IRA? Would this be a reportable as a distribution and a contribution for 5498/1099R purposes?

Thanks.



Submitted by Alan Spross on Wed, 2010-12-01 00:57

Yes, the direct rollover of a non IRA plan into an IRA of any type is reportable on 1099R and 5498.



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