2009 SEP contribution

Jan 05, 2010 1 Replies

I want to make a 2009 SEP contribution to my account at Fidelity. In the past I've always contributed before the end of the year, but my understanding is that I have until the usual tax due date. With other types or IRAs Fidelity's web site allows you to choose the tax year during the 1/1-4/15 period, but this is not the case with a SEP. By phone they told me that this is because they do not track (possibly non-calendar) fiscal years that a business may use. No matter how I make it they will report the contribution as 2010. They suggest this does not matter because I determine the year. Is this a problem?



Dan Lanciani snipped-for-privacy@danlan.com


No. I don't know why it's not required, but custodians don't have to report the year of SEP contributions. I've never had an inquiry from IRS about mine.

Phil Marti Clarksburg, MD

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