Solved

SEP IRA contribution deadline

Posted on 2009-05-09
4
394 Views
Last Modified: 2012-05-06
I failed to contribute to my SEP IRA before Dec 31, 2008.  My tax return is due to be filed (2008)
Oct 15th. If I open a new SEP IRA can I contribute for 2008 ??
0
Comment
Question by:couch313
[X]
Welcome to Experts Exchange

Add your voice to the tech community where 5M+ people just like you are talking about what matters.

  • Help others & share knowledge
  • Earn cash & points
  • Learn & ask questions
  • 2
4 Comments
 
LVL 18

Accepted Solution

by:
WaterStreet earned 25 total points
ID: 24347241
couch313,


Looks like you are past the deadline for 2008

"You can contribute to a SEP-IRA for a specific tax year starting on January 1st of that year and the contribution deadline is your tax return filing date (generally April 15th of the following year).
You cannot make contributions after that date even if you file for an income tax extension."

From https://ww3.janus.com/Janus/Retail/StaticPage?jsp=jsp/Account/TypesOfAccounts/SEPIRAAccountType.jsp


0
 
LVL 16

Assisted Solution

by:JohnBPrice
JohnBPrice earned 25 total points
ID: 24354574
"My tax return is due to be filed (2008) Oct 15th."
Is this because you are using a different fiscal year (ending in July 31 2009)?  If so, then you can.  If you filed for an extension, then no, the cutoff date was April 15th as WaterStreet said.
0
 
LVL 18

Expert Comment

by:WaterStreet
ID: 24355496
couch313,
Agree with JohnBPrice  (You need to know whether your fiscal/tax-year already ended on Dec. 31 2008 or if it will end on July 31, 2009)
0

Featured Post

Free Tool: Path Explorer

An intuitive utility to help find the CSS path to UI elements on a webpage. These paths are used frequently in a variety of front-end development and QA automation tasks.

One of a set of tools we're offering as a way of saying thank you for being a part of the community.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

This is a quick article, and by no means should you quit your job today or plan to feed your family of 5 on a business idea. Starting a business takes work. This article will only give you the basic skeleton of understanding. Going into business for…
One of the biggest challenges facing freelancers is balancing multiple projects and deadlines. Organizational skills and time management are key to keeping up with projects and staying on track. Luckily, we’ve curated seven tools to help you focus o…
The Bounty Board allows you to request an article or video on any technical topic, or fulfill a bounty request to earn points. Watch this video to learn how to use the Bounty Board to get the content you want, earn points, and browse submitted bount…
Notifications on Experts Exchange help you keep track of your activity and updates in one place. Watch this video to learn how to use them on the site to quickly access the content that matters to you.

717 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question