Dale
Sep 14 1999, 12:44 PM
If one has maitained a SEP plan and the Employer's contribution for the employee was made in 1999 based upon the 1998 wages, can a Simple be implemented for 1999? The SEP was terminated in 1998 but the final payment was made in 1999.
Gary Lesser
Sep 17 1999, 10:26 PM
No problem since the SEP contribution made on account of the prior year is treated as being made for that year and not the current (Simple) plan year.