One SEP-IRA for two employers

Submitted by Howard Hook on Mon, 2017-04-10 01:51

Hi All

If an employee has two employers and is eligible for a SEP -IRA contribution for both jobs, must they open two separate SEP-IRA accounts or can they open one SEP-IRA account and have each employer deposit the SEP contribution into the one SEP-IRA account?

Thanks
Howard



Submitted by John Peterson on Tue, 2017-04-11 19:18

Assuming that the SEP “arrangements” have been established by both employers and the respective SEP documents don’t dictate that the SEP contributions go to a particular IRA custodian the participant should be able to have both deposits made to an existing or new TIRA of his choosing.

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