SEP Requirements (See Instructions. The employer agrees that contributions made on behalf of each eligible employee will be:
SEP Requirements (See Instructions. The employer agrees that contributions made on behalf of each eligible employee will be: A. Based only on the first $160,000* of compensation. B. Made in an amount that is the same percentage of compensation of every employee. C. Limited annually to the smaller of $30,000* OR 15% of compensation. D. Xxxx xx the employee's IRA trustee, custodian, or insurance company (for an annuity contract). _____________________________________ ____________________________________ Employer's signature and date Name and title ________________________________________________________________________________ PAPERWORK REDUCTION ACT NOTICE You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by Code section 6103. The time needed to complete this form will vary depending on individual circumstances. The estimated average time is: RECORDKEEPING ..................................... 1 hr., 40 min. LEARNING ABOUT THE LAW OR THE FORM ................ 1 hr., 35 min. PREPARING THE FORM ................................ 1 hr., 41 min. If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler, we would be happy to hear from you. You can write to the Tax Forms Committee, Western Area Distribution Center, Rancho Cordova, CA 95743-0001. DO NOT send this form to this address. Instead, keep it for your records.
