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Subject:  SEP IRA Date:  12/17/2003  2:57 PM
Author:  phalanx001 Number:  38237 of 88772

I'd like to confirm my understanding of SEP IRAs. Currently, I have two jobs. At the first, I max out my 401(k). The second job is a S.Corp where I am the sole employee/shareholder.

Can I start an SEP IRA for tax sheltered contributions from my second job that are in addition to my 401(k)? If so, does the employee or the employer start the account? Finally, how does the contribution process work; e.g. does the employer send the check directly to the broker in the name of the employee?

Thanks all.
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