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Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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Employee obtains age 70 1/2 on 7/21/08 - what years ...

Resolved Question:

Employee obtains age 70 1/2 on 7/21/08 - what years can an employer make S.E.P. contribution ?
Submitted: 8 years ago.
Category: Tax
Expert:  Lev replied 8 years ago.

There is no age limit for contributions into the Simplified Employee Pension plan (SEP)

As long as otherwise the person is eligible for such contribution - he/she may continue such contribution after attaining the age 70 1/2.

An eligible employee is an employee who:

  • Is at least 21 years of age, and
  • Has performed service for you in at least 3 of the last 5 years.

Moreover as long as an employee earns at least $500 for the year (in additional to tests above) he/she MUST be allowed to participate in the plan.

Please see for reference IRS publication 560 -

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