Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-28-2008, 05:50 PM
Junior Member
 
Join Date: Feb 2008
Posts: 0
Filing Requiremwents

Are SEP Plans subject to any Federal Regulatory Annual Filing requirements for 2007?


Last edited by TaxGuru : 02-29-2008 at 01:10 PM. Reason: Corrected wording


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 02-29-2008, 10:42 AM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,400
Blog Entries: 3
Do SEP Plans have any annual financial reporting obligation?

There are several advantages of establishing a SEP plan.

1. The taxpayer has until the tax return filing date, including extensions, to set up and make contributions to the SEP.

2. SEPs don’t have the annual IRS filing requirements that Keoghs Plans are obligated to report.

3. A taxpayer may continue to contribute to a SEP after they reach age 70½, or as long as the taxpayer has earned income.

Thus, to answer your question, there are no IRS Annual reporting obligations to file any disclosure of the transactions in the SEP plan as required in Keoghs.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning