Missed contributions to SEP

[Spencer]

Employer has a SEP, but has not made contributions to rank and file ees for a couple of years. He did contribute for himself.

Can he use an EPCRS program to correct or are those not available to a SEP?

Thanks!!

EDIT: I just saw the same question below. I don't know exactly how many employees were missed or how many years this goes back. I will provide more info as I get it. Thanks.

[ETA Consulting LLC]

Yes. This can be corrected under SCP. Just make the corrective contribution to the missed employees (plus earnings through date of correction). You could use VCP (with a $250 filing fee) if you want the extra security, but the correction will be the same.

Good Luck!

[QDROphile]

You might want to consider whether or not this is an egregious failure as you determine eligibility for SCP. I suppose theft might be more egregious. Or you could use the Steve Martin defense.

[jpod]

QDRO is spot on. If I were helping one-on-one, I would ask: did you really "forget," or did the broker somebody else give you bad or incomplete advice vis a vis contributions for employees? "Forget" is a 4 letter word in these matters. Then, if he truly forgot I would ask how did you all of a sudden remember? If it was a case of bad or incomplete advice, I would ask how did you find out you were given bad or incomplete advice?