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Author: phalanx001 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: SEP IRA Date: 12/17/2003 2:57 PM
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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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Author: buzman Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38241 of 75335
Subject: Re: SEP IRA Date: 12/17/2003 7:37 PM
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Can I start an SEP IRA for tax sheltered contributions from my second job that are in addition to my 401(k)? <<Yes, most brokerages that offer them can walk you through

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Author: W401K Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 38245 of 75335
Subject: Re: SEP IRA Date: 12/17/2003 10:41 PM
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If your second job is unrelated to your first, and you or any immediate family members have no ownership in the company where you have your first job, then you should be able to do a SEP in your second job.
Hope that made sense.

Bill

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