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Re-Characterization as Catch up


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Excerpt from the SAR-SEP form:

Excess SEP contributions of a highly
compensated employee who is 50 or older before the end of the calendar year do not have to be
removed from the employee’s SEP-IRA to the extent the amount of the excess SEP contributions is
less than the catch-up elective deferral contribution limit (see Section 402(g) Limit above)
reduced by
lective deferral contributions
already made for the year.
 

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