SEP contribution for previous year if an amended return is filed that changes self employed income amount?

Submitted by ray perez on Sun, 2019-04-14 19:09

If a federal return for 2016 or 2017 is amended now (2019), and the changes impact the Schedule C self-employed income amount, allowing for a higher SEP-IRA contribution….can the additional amount be contributed (for 2016 or 2017) in 2019?

I know the normal deadline for contributions is April 15 of filing year, or if you file an extension you have up until the extension deadline.

But, I can find any info about whether amended returns that are filed a year or two later, allow for the contribution to be made upon filing the amended return.

thank you for any info you have on this matter.



Submitted by Alan - IRA critic on Sun, 2019-04-14 21:42

No, an additional amount cannot be contributed after the deadline including extensions. However, reduced net earnings could result in a contribution already made becoming an excess contribution. 

Submitted by David Mertz on Sun, 2019-04-14 21:44

The deadline is specified as the due date, plus extensions, of the tax return for the year for which the SEP contribution is being made.  Amending a tax return does not change that. 

Submitted by ray perez on Sun, 2019-04-14 21:55

thank you to Alan and DMx.   (I understand an amendment might excess contributions issues, but this instance was regarding the possibility of adding money to the SEP, due to amended Sched C allowing for higher SEP. )Thank you

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