What does the employer do when he can not locate participants to open

[Guest]

Employer can not locate participants to open an IRA account for the SEP. What are the employer's options? Does the money go back to the employer? Do they open another type account for the missing employee?

Any assistance is appreciated.

[Gary Lesser]

The regulations under Code Section 408 require (and allow) an employer to establish the IRA (and sign any documents) on behalf of the participant so that the contribution can be made.