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Level 4
posted Apr 15, 2021 1:25:39 PM

Can you roll over a terminating 401k into a SEP IRA ?

I have a 401k that is terminating due to the company being acquired and would like to roll it over into an existing SEP IRA.  Is that permitted?  All of the moneys in both are pre-tax contributions.

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2 Replies
Expert Alumni
Apr 15, 2021 1:41:47 PM

Retirement plans can be rolled over and consolidated into a SEP. This includes traditional IRAs, 401(k) plans, money purchase plans, profit sharing plans, defined benefit plans, 403(b) plans and Rollover IRAs.

 

A Roth IRA, or retirement accounts with after-tax contributions, cannot be rolled over into a SEP IRA.

 

-follow this link for additional information-

Boost Your Retirement Savings - TurboTax Tax Tips & Videos

Level 4
Apr 15, 2021 5:33:53 PM

Thank you so much!