Guest Alison Williams Posted September 30, 2002 Posted September 30, 2002 Are SEP's required to file a Form 5500? It is a one person plan (husband and wife) with no employees. The plan asset value is over $300,000. Thanks!
Michael Devault Posted October 1, 2002 Posted October 1, 2002 The instructions for Form 5500 contains a list of plans that are not required to file the form. SEPs are included in that list. Hope this helps.
JohnCheek Posted October 2, 2002 Posted October 2, 2002 Actually, to be exempt from filing a 5500, the SEP must conform to the alternate method of reporting described in the regs., which is to give a copy of the adoption agreement to every participant. Real simple, but if you discover 5 years too late that you didn't do it... John Cheek CPA www.cpaSPAN.com
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