Guest tccgroup Posted February 7, 2001 Posted February 7, 2001 We have a client, who is a non-profit organization running a SARSEP plan. Their accountant has told them that they were not allowed to accept employee deferrals into the plan since 1997. He said this was a rule that came down for non-profits only. Is this true? If yes, where can we get more information? IRS Pub 590 does not mention anything like this.
Guest rwallace Posted February 9, 2001 Posted February 9, 2001 I think their account is confusing the SARSEP discontinuance rules for all plans in 1997. I have never heard of any rules that were "specific to non-profits" for sarsep contributions. I think your client needs to get a second opinion. (However, they may be better off with a SIMPLE IRA.)
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