Qualified Plans
By when may an employer set up a SEP for a given year?
Answer and explanation
Answer: D. IRS Publication 560 states that a SEP may be set up for any year as late as the due date, including extensions, of the income tax return. That flexibility is part of what makes the SEP simpler than a qualified plan, which must generally be in place earlier.Source: IRS Publication 560 — Pub 560, Timing of SEP set-up
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