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I work for a small business. My employer has a SEP IRA for himself with American Express Financial Services. This year, my employer will begin to fund my SEP IRA. American Express sent me some paperwork to establish a SEP IRA account. I spoke with an American Express represetative and he told me that I had to establish my SEP IRA account with American Express and that I had to use an American Express broker to buy and sell equities within the account. Does anyone know whether I'm required to use American Express simply because my employer chose to use them for his SEP IRA?

I originally posted this question on the "Ask a Foolish Question" board but TMFKaren suggested that I ask the tax Fools so here goes. Thanks!

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