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Wichita Kansas Form 5305-A-SEP: What You Should Know
The IRS requires a small business to provide the form at the time of hire if you will be performing services in excess of 1,000 per month. The amount of the contribution can be a percentage of your salary. The IRA must be in a financial institution that has an insurance contract. When opening a SEP plan, your employer is required to make certain minimum contributions, regardless of the size of your business.
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