Guest sugar daddy Posted August 3, 2011 Posted August 3, 2011 I am of the opinion you can roll over assets from a terminating psp into a SEP-IRA. If I am right, does the SEP have to have any sort of rollover language incorporated in it? Thank you kindly
ETA Consulting LLC Posted August 4, 2011 Posted August 4, 2011 Sure you can. A SEP is, technically, a traditional IRA. Don't confuse it with a SIMPLE IRA (where you cannot roll anything into it except another SIMPLE IRA). Good Luck! CPC, QPA, QKA, TGPC, ERPA
Bird Posted August 4, 2011 Posted August 4, 2011 Sure you can. A SEP is, technically, a traditional IRA. I agree, but some (maybe all?) investment companies will make you open a separate account as a "traditional" IRA for the rollover. I think it has more (everything) to do with their recordkeeping and tracking of contributions than any legal requirements. Ed Snyder
masteff Posted August 4, 2011 Posted August 4, 2011 The IRS's handy dandy rollover chart: http://www.irs.gov/pub/irs-tege/rollover_chart.pdf Kurt Vonnegut: 'To be is to do'-Socrates 'To do is to be'-Jean-Paul Sartre 'Do be do be do'-Frank Sinatra
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