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Contribution deadline - Employee contributions to SEP-IRA


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I'm unable to locate any definitive source to answer this question.

What is the deadline for employee contributions to a SEP-IRA for any particular tax year? Note I'm not referring to contributions made by self-employeed individuals as those are considered Employer contributions and are reported in Box 8 of Form 5498. Also, I'm not referring to elective deferral contribution to a SARSEP which are also reported in Box 8 Those deadlines seem clear to me.

What isn't clear is the deadline an employee has to make a contribution to their SEP-IRA for the previous tax year. These contributions are reported in box 1 of the Form 5498 and following the annual dollar limit of §219. From my understanding, they are treated like traditional IRA contributions. Because of this, it seems to me then that logicially the deadline to make contribution for the previous tax year would be April 15th (just as one would do with their regular stand alone traditional IRA).

However, every source I reference simply states that the deadline to make SEP contribution is tax filing deadline plus extensions with no seperate mention being made (or at least acknowlegement of) that the deadline for box 1 employee contributions made to a SEP-IRA still needing to follow the April 15th deadline of a traditional IRA.

Just hoping someone can confirm and possible cite a source so I can be 100% confident on this answer.

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I think it's simply a traditional IRA contribution being done via that particular account, rather than a special type of SEP contribution. I presume you've researched Code section 408(k)?

http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-SEPs-Contributions

"If I participate in a SEP plan, can I also make tax-deductible traditional IRA contributions to my SEP-IRA?

If the SEP-IRA permits non-SEP contributions, you can make regular IRA contributions (including IRA catch-up contributions if you are age 50 and older) to your SEP-IRA, up to the maximum annual limit. However, the amount of the regular IRA contribution that you can deduct on your income tax return may be reduced or eliminated due to your participation in the SEP plan."

Might also look at the following: http://www.dol.gov/ebsa/publications/PayrollDedIRAs.html

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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  • 1 year later...

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