Client is a sole proprietor and wants to open a SEP or SIMPLE plan. Too late to open SIMPLE for 2017. Can she open a SEP for 2017, contribute her max if net income then open a SIMPLE plan for 2018 and ONLY contribute to this plan? I know the business owner cannot contribute to open plans, but can the staggered opening of these plans from one year to the next work?

The SEP would essentially open be used for 2017 tax purposes – then after 2 year rule roll over to traditional IRA. Is this possible?

Thank you!