Adopting SEP, but had terminated DB plan

[Guest Gregory]

With the repeal of 415(e), is it still necessary for an employer adopting a "prototype" SEP IRA, who once sponsored a now terminated DB plan covering the same employees, to file for a determination letter?

Thank you in adavance for any assistance!

[Gary Lesser]

There shouldn't be a problem--415(e) no longer exist! However, there may be deduction issues under IRC 404(a)(7) depending upon when the DB plan was terminated and contributions made to ther plans.