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.