topic SEP IRA Contributions for a Spouse in Self employed

SEP IRA Contributions for a Spouse

LaughTrack — Wed, 19 Mar 2025 21:34:58 GMT

I had self-employment income this year so I can contribute to a SEP-IRA. Do I need to contribute to it in my name or can I contribute it to a SEP-IRA for my spouse who had no self-employment income. I know I can contribute to both my spouse and my traditional IRA's given I had sufficient earnings, but can I contribute to a SEP-IRA for my spouse based on my earnings (and not contribute to one for me?)

Re: SEP IRA Contributions for a Spouse

AmyC — Wed, 19 Mar 2025 22:56:12 GMT

It depends. The SEP IRA is for self employed and their employees.

If your spouse is not part of the business, they aren't part of the SEP IRA.
If you spouse is an employee, they are part of the plan.

Reference: Retirement plans for self-employed people

Re: SEP IRA Contributions for a Spouse

LaughTrack — Thu, 20 Mar 2025 11:36:32 GMT

Thanks much!