Form 5305a-Sep - Salary Reduction Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Page 5

Download a blank fillable Form 5305a-Sep - Salary Reduction Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete Form 5305a-Sep - Salary Reduction Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

ADVERTISEMENT

5
Form 5305A-SEP (Rev. 6-2006)
Page
Model Salary Reduction SEP Deferral Form
I. Salary reduction deferral
Subject to the requirements of the Model Salary Reduction SEP of
, I authorize the
(name of employer)
following amount or percentage to be withheld from each of my paychecks and contributed to my SEP-IRA:
(a)
% (not to exceed 25%) of my salary; or (b) $
.
This salary reduction authorization shall remain in effect until I provide written modification or termination of its terms to my employer.
II. Amount of deferral
I understand that the total amount I defer in any calendar year may not exceed the smaller of:
(a) 25% of my compensation (determined without including any SEP-IRA contributions); or (b) the section 402(g) limit for the year.
III. Commencement of deferral
The deferral election specified in I above shall not become effective before
. Specify
(Month, day, year)
a date no earlier than the first day of the first pay period beginning after this authorization.
IV. Distributions from SEP-IRAs
I understand that I should not withdraw or transfer any amounts from my SEP-IRA that are attributable to elective deferrals and income
on elective deferrals for a particular calendar year (except for excess elective deferrals) until March 15 of the subsequent year or, if
sooner, when my employer notifies me that the deferral percentage limitation test for that plan year has been completed. Any such
amounts that I withdraw or transfer before this time will be includible in income for purposes of sections 72(t) and 408(d)(1).
Signature of employee
Date
Notification of Excess SEP Contributions
To:
(name of employee)
Our calculations indicate that the elective deferrals you made to your SEP-IRA for calendar year
exceed the maximum
permissible limits under section 408(k)(6), and that $
must be withdrawn from your SEP-IRA.
These excess SEP contributions are includible in your gross income for the
(insert the year identified above, or if less
than $100, the following year) calendar year.
These excess SEP contributions must be distributed from your SEP-IRA by April 15, 20
(insert year after the calendar
year in which this notice is given) in order to avoid possible penalties. Income allocable to the excess amounts must be withdrawn at
the same time and is includible in income in the year of withdrawal. Excess SEP contributions remaining in your SEP-IRA account after
that time are subject to a 6% excise tax, and the income on these excess SEP contributions may be subject to a 10% penalty when
finally withdrawn.
You made total excess contributions for the year of $
. This amount may be different from the amount you have to
withdraw if you have unused catch-up elective deferral contributions under this SEP for the year.
Signature of employer
Date
5305A-SEP
Form
(Rev. 6-2006)

ADVERTISEMENT

00 votes

Related Articles

Top 20 Happy Easter Cards And Gift Tags To Download For Free
Top Ten Easter Arts And Crafts Activities For Your Kids
Free Easter Coloring Pages And Easter Printables For Your Kids

Related forms

Form 5305a-sep - Salary Reduction Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Form 5305a-sep - Salary Reduction Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Financial
Form 5305-a-sep - Salary Reduction And Other Elective Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Form 5305-a-sep - Salary Reduction And Other Elective Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Financial
Form 5305-sep - Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Form 5305-sep - Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Financial
Form 5305-sep - Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Form 5305-sep - Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Financial
Form 5305-sep - Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Form 5305-sep - Simplified Employee Pension - Individual Retirement Accounts Contribution Agreement Financial
Form 5306-a - Application For Approval Of Prototype Simplified Employee Pension (sep) Or Savings Incentive Match Plan For Employees Of Small Employers (simple Ira Plan) Form 5306-a - Application For Approval Of Prototype Simplified Employee Pension (sep) Or Savings Incentive Match Plan For Employees Of Small Employers (simple Ira Plan) Financial
Form 5306-a - Application For Approval Of Prototype Simplified Employee Pension (sep) Or Savings Incentive Match Plan For Employees Of Small Employers (simple Ira Plan) Form 5306-a - Application For Approval Of Prototype Simplified Employee Pension (sep) Or Savings Incentive Match Plan For Employees Of Small Employers (simple Ira Plan) Financial
Form 5306-a - Application For Approval Of Prototype Simplified Employee Pension (sep) Or Savings Incentive Match Plan For Employees Of Small Employers (simple Ira Plan) Form 5306-a - Application For Approval Of Prototype Simplified Employee Pension (sep) Or Savings Incentive Match Plan For Employees Of Small Employers (simple Ira Plan) Financial
Form 5306-a - Application For Approval Of Prototype Simplified Employee Pension (sep) Or Savings Incentive Match Plan For Employees Of Small Employers (simple Ira Plan) Form 5306-a - Application For Approval Of Prototype Simplified Employee Pension (sep) Or Savings Incentive Match Plan For Employees Of Small Employers (simple Ira Plan) Financial
Form 5305-sep - Simplified Employee Pension Form Form 5305-sep - Simplified Employee Pension Form Financial

Related Categories

Parent category: Financial
Download
Go
Page of 8