Keogh to IRA
Will a Keogh automatically terminate after it is rolled over in a trustee-to-trustee transfer to a Traditional IRA or does it require a final filing of form 5500 to officially close it out? It was verified prior to rollover that all amendments are up to date with the Keogh.
If a rollover has been completed transferring the entire balance of the Keogh to an Traditional IRA, but a final form 5500 is not filed can the Keogh remain open and accept ongoing employer contributions?
My general understanding is that a SEP IRA is a less burdensome option, but a SEP and a Keogh cannot exist at the same time. Is this correct?
Thanks!
Permalink Submitted by William Tuttle on Thu, 2019-07-11 02:07