I have a question. I once owned a company and I opened a SEP IRA back in 1998 and contributed some money to it. I recently sold off my portion of the business to my business partner and started a new corporation. I would like to know if it is possible to simply start contributing to that same IRA through my new corporation. I contacted Vanguard in this case and they indicated that all I would have to do is write a letter to them indicating what the new company name is and they would change the name on the account. From what I understand the SEP IRA is owned by me personally so I did not think it was a big deal. However, my accountant is unsure and does not think I can contribute to this old SEP IRA since it is somehow "attached" to the old corporation (C-Corp by the way). The new company is an S-Corp. Does anyone have any input on this?
Thanks for any feedback.
Dave