NeedhelpREsep
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SEP Transition to Simple with Funding
NeedhelpREsep replied to NeedhelpREsep's topic in SEP, SARSEP and SIMPLE Plans
Thank you. -
Hello. I have a client with an existing SEP Plan (prototype w/ TD). I know we can still make a 2020 contribution of course, but not sure on this: Can a 2020 contribution be made to the SEP, we then terminate the SEP, and finally establish a Simple for 2021? If so, does the SEP termination need to be retro to 12/31/2020, and is that even possible? Thank you in advance.