Guest Karis Schwent Posted April 14, 2012 Posted April 14, 2012 If someone was an independent contractor in a prior year, does that count as service for eligibility?
ETA Consulting LLC Posted April 14, 2012 Posted April 14, 2012 No, it doesn't. An independent contract is a self employed individual. Hence, the service would be for the contractor's own company, and he could sponsor a SEP on his own. Good Luck! CPC, QPA, QKA, TGPC, ERPA
Gary Lesser Posted October 10, 2012 Posted October 10, 2012 Agreed. SEP service must be as an "employee" (regadless of whether any compensation is paid) under Code Section 408(k).
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