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Old 03-13-2016, 11:37 AM
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Question Form 5330 - Who is Plan Sponsor?

I'm filling out Form 5330 for my spouse, a self-employed sole proprietor, who made an excess contribution to a SEP-IRA.

Form 5330 asks for the following 3 values. I don't know what to provide here for a self-employed individual whose SEP-IRA is just an individual one. The instructions aren't helpful.
  • Plan Sponsor
  • Plan Sponsor's EIN (form field won't accept a Social Security number)
  • Plan Number (apparently a 3-digit number)

Thanks for your help!

-Doug



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Old 03-15-2016, 12:58 AM
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Join Date: Oct 2010
Posts: 5,236
Quote:
Originally Posted by dlaudenschlager View Post
I'm filling out Form 5330 for my spouse, a self-employed sole proprietor, who made an excess contribution to a SEP-IRA.

Form 5330 asks for the following 3 values. I don't know what to provide here for a self-employed individual whose SEP-IRA is just an individual one. The instructions aren't helpful.
  • Plan Sponsor
  • Plan Sponsor's EIN (form field won't accept a Social Security number)
  • Plan Number (apparently a 3-digit number)

Thanks for your help!

-Doug
Plan Sponsor======== Once you create a SEP-IRA, your business is considered a retirement plan sponsor.


?
? Plan Sponsor's EIN (form field won't accept a Social Security number)============]>> your biz FEIN; you need an employer ID number.

? Plan Number (apparently a 3-digit number)========>perhaps specific number for the sep acct I guess



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