IRA transfer to SEP-IRA
Client is 64 and has both individual IRA and SEP-IRA accounts.
We want to transfer a partial amount from her IRA account (managed account) to the SEP-IRA account (Jackson annuity) due to the lifetime income and death benefit the Jackson contract has.
a. Can you transfer money from an IRA to a SEP IRA with out any tax implications?
or
b. You can’t do the transfer as the money would be noted as a contribution to the SEP-IRA?
Thank you,
Douglas
Permalink Submitted by Alan - IRA critic on Thu, 2021-07-22 15:18
A SEP IRA can receive a rollover (or better yet a direct transfer) from another non Roth IRA. This would not be treated as a SEP contribution.
Permalink Submitted by Douglas Bauerband on Thu, 2021-07-22 15:36
Thank you, Alan…have a great weekend.