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Rolling profit sharing to a SEP IRA?


Guest sugar daddy
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Guest sugar daddy

I am of the opinion you can roll over assets from a terminating psp into a SEP-IRA. If I am right, does the SEP have to have any sort of rollover language incorporated in it? Thank you kindly

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Sure you can. A SEP is, technically, a traditional IRA.

I agree, but some (maybe all?) investment companies will make you open a separate account as a "traditional" IRA for the rollover. I think it has more (everything) to do with their recordkeeping and tracking of contributions than any legal requirements.

Ed Snyder

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