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SEP IRA contribution deadline

Posted on 2009-05-09
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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 ??
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Question by:couch313
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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


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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.
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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)
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