IRS Form 5305-SEP

[Felicia]

Hi,

In the past, I seem to recall that the IRS allowed an employer could use the IRS model form only if it did not maitain any other retirement plan and had not maintained a defined benefit plan at any time in the past. I cannot find this last requirement regarding defined benefit plans in the 5305-SEP instructions or elsewhere. Is it still true? If so, where would I find it.

Thanks for your help.

[Borsley]

I just went to the IRS site at www.irs.gov and searched for 1035-SEP. See the instructions for "When not to use the 1035-SEP" (found under "Instruction for Employer).

http://www.irs.gov/pub/irs-pdf/f5305sep.pdf