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SEP IRA for Church


R. Butler
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You're not. A SEP does not contain language to exclude employees and still pass coverage because the entire notion of coverage testing does not exist. Hence, if the church wants to exclude employees and still pass non-discrimination rules, they should use a vehicle that provides for it; the most flexible being a 403(b). If the minister is a NHCE, then you may even do a one-person 401(k) plan. But, a SEP; I cannot see.

Good Luck!

CPC, QPA, QKA, TGPC, ERPA

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