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Remove SEP Contributions Made on Account of 2021?
BenefitsLink Message BoardsLink to more items from this source
July 15, 2021

"Owner of employer was only participant in a SEP. Funded 20% monthly based on her compensation during 2021. Now realizes the only other employee was eligible as of 1/1/21. Owner has stopped contributions and now is considering removing her contributions instead of funding (with lost earnings) contributions for the employee for 2021. Can the owner's contributions be removed from her SEP-IRA, essentially changing her mind as to sponsorship of a SEP for 2021?"

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