IRA to SEP rollover
Is is permissible to rollover or convert the balance of a traditional IRA into a SEP IRA?
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Jalani
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02/23/10 4:42am PST
Viewed by asker 02/24/10 2:31pm PST
Viewed by asker 02/24/10 2:31pm PST
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Amy-in-PA
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02/23/10 6:36am PST
I think so. Once upon a time, my Merrill Lynch broker did something so that when I wanted to start a SEP with him, already having an IRA with him, he had me sign new papers and the whole balance became my SEP.
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PhoebeRoberts
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02/23/10 6:48am PST
Yes. You can also make traditional IRA contributions to a SEP-designated account, or vice versa. A SEP account is an IRA account for all intents and purposes.
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Jalani
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02/24/10 2:31pm PST
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OK. That confirms my thought. Thank you for the help.
