SEP IRA to Solo 401k as of (backdated rollover)
Good day. I have a client asking if they can request a rollover of a SEP IRA to a SOLO K and backdate the transaction/rollover date as of the day the SEP IRA was opened. Can that be done per the IRS? It would cross-plan years anyway, if that even matters. Best, CS
Permalink Submitted by Alan - IRA critic on Wed, 2023-05-03 22:13
No, the SEP IRA distribution is reported for the day it occurs. If a SEP contribution was made it cannot be recharacterized as a solo K contribution by doing a rollover. The solo K would be receiving a rollover contribution from the SEP IRA.
Permalink Submitted by William Tuttle on Thu, 2023-05-04 03:07
What would be the purpose of what the client wants to do?