Message Font: Serif | Sans-Serif
No. of Recommendations: 0
What is the maximum percent of compensation that a self-employed person can contribute to a SEP IRA? I have no employees. Here are some opinions from the first six pages of Google hits for "sep contribution limits 2002".

Merrill Lynch "as much as the lesser of 25% of compensation or $40,000",2271,17984,00.html

Harrisdirect "25%**/$40,000"

Someone named Bud "20% (25%/1+25%)"

BrixAugustin LLP "25%"

Harbor Fund "25%"

TD Waterhouse "25%**/$40,000"

IRS site has the upper dollar limit and not a percent increase.,,id=26880,00.html

Armstrong Financial says Congress goofed and "Its been fixed!!!"

From IRS Publication 590 (for 2001) pages 3 and 59:

For 2002, your employer can contribute to your SEP-IRA up to the lesser of 15% of your compensation or $30,000 (up from $25,500 in 2001).

From IRS Publication 590 (for 2001) page 63:

In effect, the overall limit is $25,500 for 2001 (15% x $170,000), and is $30,000 for 2002 (15% x $200,000).
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Live Video Event Monday!
The GP team is hosting a live video event on Monday at 4 p.m. ET. Don't worry if you can't make it — we'll have a replay and a transcript. Click for more!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.