Guest Curt Stoller Posted December 7, 2012 Posted December 7, 2012 We have a client that has already deposit a contribution for the e 2012 year to her SEP and she would like to install a Defined Benefit Pension Plan for 2012. Can the contribution to the SEP be reversed given is was deposited prior to the year end? or can be taken back as a mistaken deposit? Thanks for your thoughts.
Gary Lesser Posted January 3, 2013 Posted January 3, 2013 No. For deduction limits (IRC 404) treat the SEP contribution as though it was a profit-sharing plan.
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