SEP IRA Formation when an employee refuses to participate
What recourse does an employer have who wants to set up a SEP but one employee refuses to participate. The employee says “he doesn’t want anything to do with it.”
The employer has three full-time employees all of whom qualify to participate. Employees are himself, his spouse and one additional employee. Can the employer still set up the plan and exclude the employee who refuses to participate?
Permalink Submitted by Alan - IRA critic on Wed, 2023-03-08 22:46
If the owners meet the 3 of last 5 year requirement, could that be used to exclude the employee?