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SARSEP in Non Profit Organizations


Guest tccgroup
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Guest tccgroup

We have a client, who is a non-profit organization running a SARSEP plan. Their accountant has told them that they were not allowed to accept employee deferrals into the plan since 1997. He said this was a rule that came down for non-profits only. Is this true? If yes, where can we get more information? IRS Pub 590 does not mention anything like this.

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Guest rwallace

I think their account is confusing the SARSEP discontinuance rules for all plans in 1997. I have never heard of any rules that were "specific to non-profits" for sarsep contributions. I think your client needs to get a second opinion. (However, they may be better off with a SIMPLE IRA.)

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