Hello,
My wife and I own a business with no other employees. We each have a SEP IRA set up and employer contributions for 2017 have been made. I now realize I should have set up solo 401 K accounts.
It looks like I can still set up a solo 401k account and make the $18,000 contribution for 2017 if my SEP is not a 5305. I set up the SEP IRA's at Vanguard and don't remember filling out a 5305 form and they have no record. How would I know if I have a 5305 and if I do is it possible to change that?
Thank you.