SEP IRA

It’s Not Too Late to Start a 2011 SEP for Some Self-Employed Businesses

A Simplified Employee Pension (SEP) is a plan that allows businesses to make retirement contributions for its employees and owners without getting involved in more complicated qualified plans. Under a SEP, the contributions are deposited to a traditional IRA, sometimes called a SEP-IRA, set up by each eligible employee.

Common Errors in SEP IRA Plans

IRS recently completed a SEP plan compliance project and found errors by both the SEP employer and by the financial institution filing SEP contribution information. Below we outline the errors made by the employers and the financial institutions.

SEP IRA Confusion

This week the Ed Slott and Company IRA Discussion Forum featured a question on whether or not a trust as a SEP IRA beneficiary should be any different than it would be with a traditional IRA account. The answer to that question is not really, but the relationship between SEP IRAs and traditional IRAs can be a confusing one. Want to see how?

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