Can A 501c3 Contribute To An Employee Sep Ira

[Guest Nicholas]

Greetings-

I have been looking into setting up a 403b Plan for the 501c3 Non Profit that I serve as CFO. However my Board of Directors like the flexibility of a SEP IRA.

I just spoke with my BofA Financial Servcies Rep and she claimed that because we were a 501c3 we must use a SIMPLE IRA not a SEP IRA.

Further investigation into the IRS Pub 560 and IRS Pub 5305 SEP did not give me a clear answer into whether a 501c3 NFP could contribute to an employees SEP IRA.

Do you have any insight you could provide me as to if my 501c3 can set up contributions to a SEP IRA?

I appreciate your time.

Nick Batch

info@libertytaxglendora.com