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New Member
posted Jun 4, 2019 2:02:26 PM

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?

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1 Best answer
Level 15
Jun 4, 2019 2:02:30 PM

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.

3 Replies
Level 15
Jun 4, 2019 2:02:27 PM

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.

New Member
Jun 4, 2019 2:02:29 PM

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?

Level 15
Jun 4, 2019 2:02:30 PM

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.