SEP IRA
I have a client, age 72, who works part time for a doctor who has a SEP plan. My client is eligible for a SEP contribution. Because SEP is under iRA framework can her employer actually make a contribution to a SEP plan on her behalf given her age?
Permalink Submitted by Alan - IRA critic on Thu, 2015-11-12 16:59
Yes. For SIMPLE and SEP IRAs, contributions can continue beyond 70.5, but RMDs must also be taken based on the year end SEP or SIMPLE IRA balance.