Fisher Posted April 13, 2007 Report Share Posted April 13, 2007 Is there any method to correct SEP contributions. For the last several years, a client only used base wages for contributions that were declared. They have been operating under the Model 5305 and did not know they could not exclude bonuses and overtime. Can they self-correct? Link to comment Share on other sites More sharing options...
Gary Lesser Posted July 20, 2007 Report Share Posted July 20, 2007 Probably. See Rev. Proc. 2006-27, Section 6:10. Hope this helps. Link to comment Share on other sites More sharing options...
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