SEP contributions for a deceased person
Q1: Can a 2012 SEP contribution be made for an individual who passed away in 2013 prior to making the calculated amount? The return is extended through 10/15/2013.
Q2: Same as above except the SEP has not been set up for the deceased individual yet?
Permalink Submitted by mk foss on Wed, 2013-08-07 16:30
There is a revenue ruling on this point regarding IRAs. The SEP participant must be alive on the date of the contribution and cannot open a SEP after they’ve passed away.