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jgordosea, Enrolled Agent
Category: Tax
Satisfied Customers: 3161
Experience:  I've prepared all types of taxes since 1987.
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what is the difference between a 401k and a 408k

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Submitted: 9 years ago.
Category: Tax
Expert:  jgordosea replied 9 years ago.

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 Fidelity has good basis information on both the SEP-IRA, 401(k) and self emploked 401(K) plans.

I hope this helps.