eilano
Jan 8 2004, 05:32 PM
Couple filed as self employed and funded their individual SEPs. As of 1/1/03, they became an LLC and hired an employee. Do they need to change their SEP documents, etc.?
mbozek
Jan 8 2004, 11:07 PM
What does the plan document say about adoption by a sucessor employer. A well drafted plan permits a sucessor to adopt the plan. Otherwise why not have the LLC adopt its own SEP for the 1/1/03 plan year?