Taking a poll - assign plan number to SEP or SIMPLE-IRA?

[Belgarath]

If a client has a SEP, or a SIMPLE-IRA, and they freeze/"terminate" it and set up a new 401(k). do you:

a. Assign plan #001 to the 401(k), or

b. Consider the prior SEP or SIMPLE-IRA as plan #001, and assign the 401(k) plan #002?

I do actually have a reason for asking this: in the VCP procedure for correcting a SIMPLE-IRA, the Appendix asks for the plan #, and I would normally have used option #1 above.

[Flyboyjohn]

My vote is for option 1 and put "N/A" as the plan number for the predecessor SEP or SIMPLE "program

[Belgarath]

It would have helped if I had read the instructions for the darned thing first. From the instructions:


"If your plan is a SEP, SARSEP, or SIMPLE IRA, leave this line blank."