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Laredo Texas Form 5305-A-SEP: What You Should Know

Amendment Custodial (Non-Paid Employees) This program is for employers. A SEP IRA can only be used by non-exempt employees. Your employer must be a Texas corporation or limited liability company that has paid the IRS a 10.01. Thousand in taxes in the preceding calendar year or have paid over the limit on any prior year and the total amount of compensation received is 15.01. Thousand or less. If your employee is over 35 years of age, you do not have to have paid over the limit to continue the program. The Department of Public Safety and the City of Laredo do not endorse nor guarantee a particular plan or program, and this program is offered just as a convenience to individuals seeking an affordable way to save for retirement. The City of Laredo does not guarantee or warrant its validity, fairness, or accuracy. This program is only available for information purposes. If you participate in any other program other than SEP or IRA, no compensation and no investment advice or service is provided.

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