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What is the difference between a 401k and a 408k?

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what is the difference between a 401k and a 408k?
Submitted: 10 years ago.Category: Tax
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8/29/2007
Tax Professional: jgordosea, Enrolled Agent replied 10 years ago
jgordosea
jgordosea, Enrolled Agent
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Satisfied Customers: 3,161
Experience: I've prepared all types of taxes since 1987.
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Plans qualified under Internal Revenue Code (IRC) Section 401(a), including pension, profit-sharing, stock bonus, and 401(k) plans are often referred to as "qualified" plans.

Simplified Employee Pensions Plan (SEP) are under IRC, Section 408(k).

At http://personal.fidelity.com/products/retirement/getstart/newacc/keogh.shtml.cvsr Fidelity has good basis information on both the SEP-IRA, 401(k) and self emploked 401(K) plans.

I hope this helps.

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