Self Directed SEP
The Simplified Employee Pension, or SEP, is just what it sounds like. It is a way for small businesses to provide their employees with a pension plan that does not require a dedicated staff for administrative purposes. It carries most of the same benefits as more complex plans without throwing a wrench into a small business's operations. Employees can use their SEPs just as they would any other such account.
As with all retirement accounts, SEP owners will want to be certain they stay in compliance with the law so they should familiarize themselves with it. IRS Publication 560 goes into detail about the SEP specifically, and Publications 575 and 939 speak about pension income and the rules regarding its use in general. You should also speak with a financial expert familiar with the SEP to clarify anything you do not understand.
It is important that you understand what you can do with your SEP because ignorance of the law is not a defense. You are expected to comply whether you have read the rules or not. When you do go in search of advice concerning how you can use your retirement funds to your advantage, you should remember that many financial consultants are familiar only with some parts of the law and some run their own agendas.
Getting Good Advice and Gaining Control of Your SEP
NAFEP out of Salt Lake City, Utah has many years of experience guiding investors through the process of gaining control of their retirement accounts and using them to build real wealth. They can help you avoid penalties and fees and can help you realize the magnitude of investment possibilities open to you. They will also not charge you an arm and a leg to do so.
Written By Scott Janko, The National Association of Financial and Estate Planning (NAFEP)
For more details on the Self Directed IRA -ICOSM Click Here.