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must we use document sponsor for all investments in a Sep?

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Nonprofit has a 403(b) for deferrals and a SEP for Employer contributions..The need to update the document. Because they have the 403(b), they can't use form 5305. American Funds Doc says American funds is custodian. VanGard doc says Vangard will hold assets.

How does this paragraph play out in real life?

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It has a lot of meaning to the American Funds, the custodian and their respective service-providers. It means that if an employee moves money from the SEP IRA to a different IRA then that money is no longer considered part of the SEP for whatever reason relevant.

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