Can I make a SEP contribution for this year?

April 28, 2003

Subject:  SEP IRA

From:  Sheila
Date:  Sat, 29 Mar 2003

Can I make a SEP contribution for 2003 or does it have to be for the previous year?

Answer

Date:  04 Apr 2003

You can designate advance payments for your 2003 SEP contribution during 2003. If you pay in more than the finally determined contribution amount, you will have to withdraw that amount plus any related income before the due date of your 2003 income tax return.

Good luck!
Mike Gray

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