IRA contribution to qualified plan

[Guest RBeck]

Silly questions:

Can a participant make IRA contributions directly to a qualified plan?

AND, can a sole proprietor roll a SEP into a 401(k) plan?

[Appleby]

Under EGTRRA, an employee may make an IRA contribution to a qualified plan, if the plan allows. These contributions are referred to as “deemed IRA” contributions. .

This is effective for ax years beginning 2003.

A SEP IRA can be rolled to a qualified plan ( including a 401(k) plan), effective for tax years beginning 2002. Amounts representing non-deductible IRA contributions and required minimum distributions must not be included in the rollover.

[Guest RBeck]

the more things change the more they stay the same. QVECs are back in a slightly different form!

thanks, Appleby!

[Mike Preston]

I thought the IRS was considering requiring the Trustee of a plan that accepts IRA monies be a qualified IRA custodian. Also, aren't they considering requiring qualified plans that hold IRA monies to issue the same annual statement that regular IRA's have to issue? I think it is the 5429? Is there any update on either of these?