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s12321
New Member

I have income under LLC and also W2 from employer, can i contribute to SEP along with work 401k?

Can i contribute to SEP account while i am contributing to work 401k?

1 Best answer

Accepted Solutions
dmertz
Level 15

I have income under LLC and also W2 from employer, can i contribute to SEP along with work 401k?

Your participation in the W-2 employer's retirement plan has no effect on your eligibility to contribute to a SEP plan under your LLC.

Yes, your LLC is permitted to establish and contribute to a SEP plan.

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3 Replies
dmertz
Level 15

I have income under LLC and also W2 from employer, can i contribute to SEP along with work 401k?

Is your W-2 employer owned and controlled independent of your LLC?

If so, participation in the W-2 employer's retirement plan has no effect on your eligibility to contribute to a SEP plan under your LLC.
s12321
New Member

I have income under LLC and also W2 from employer, can i contribute to SEP along with work 401k?

Yes, W2 employer is separate.
I have W2 income to report and employer have 401k.
Income from my LLC can be contributed to SEP plan?
dmertz
Level 15

I have income under LLC and also W2 from employer, can i contribute to SEP along with work 401k?

Your participation in the W-2 employer's retirement plan has no effect on your eligibility to contribute to a SEP plan under your LLC.

Yes, your LLC is permitted to establish and contribute to a SEP plan.

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