Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

Wheres My Amended Return

Tax Extension For UnemployedWww Irs Gov FormspubsHr Block1040ez Form InstructionsFederal Tax Amended ReturnFree Federal And State Tax E File1040ez CalculatorAmend Tax Return 2009Filing 2012 Taxes Late OnlineTax Amendment FormAmended Tax Return2011 Irs Form 10411040ez FilingNeed To Amend 2010 Tax ReturnFiling TaxesTax Forms 2011 1040File Federal And State Income Tax For FreeEfile FreeIrs Amended Tax FormOnline Tax FilingAmended Tax FormFiling Taxes For MilitaryFile Federal And State Taxes Online For FreeHr Block Tax CutTax SlayerH&r Block Online Filing1040ez 2010 Form Printable1040x H&r Block1040ez Free Online FilingIrsH&r Block File Online2010 Tax File FreeHttp Www Hrblock ComE File 2012 TaxesTax Return 2012Tax 1040ez1040ez FileTax Filing ExtensionFile A Tax ExtensionFile Taxes Income

Wheres My Amended Return

Wheres my amended return How To Get Tax Help Table of Contents You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get more information from the IRS in several ways. Wheres my amended return By selecting the method that is best for you, you will have quick and easy access to tax help. Wheres my amended return Contacting your Taxpayer Advocate. Wheres my amended return   If you have attempted to deal with an IRS problem unsuccessfully, you should contact your Taxpayer Advocate. Wheres my amended return   The Taxpayer Advocate represents your interests and concerns within the IRS by protecting your rights and resolving problems that have not been fixed through normal channels. Wheres my amended return While Taxpayer Advocates cannot change the tax law or make a technical tax decision, they can clear up problems that resulted from previous contacts and ensure that your case is given a complete and impartial review. Wheres my amended return   To contact your Taxpayer Advocate: Call the Taxpayer Advocate at 1–877–777–4778. Wheres my amended return Call the IRS at 1–800–829–1040. Wheres my amended return Call, write, or fax the Taxpayer Advocate office in your area. Wheres my amended return Call 1–800–829–4059 if you are a TTY/TDD user. Wheres my amended return   For more information, see Publication 1546, The Taxpayer Advocate Service of the IRS. Wheres my amended return Free tax services. Wheres my amended return   To find out what services are available, get Publication 910, Guide to Free Tax Services. Wheres my amended return It contains a list of free tax publications and an index of tax topics. Wheres my amended return It also describes other free tax information services, including tax education and assistance programs and a list of TeleTax topics. Wheres my amended return Personal computer. Wheres my amended return With your personal computer and modem, you can access the IRS on the Internet at www. Wheres my amended return irs. Wheres my amended return gov. Wheres my amended return While visiting our web site, you can: Find answers to questions you may have. Wheres my amended return Download forms and publications or search for forms and publications by topic or keyword. Wheres my amended return View forms that may be filled in electronically, print the completed form, and then save the form for recordkeeping. Wheres my amended return View Internal Revenue Bulletins published in the last few years. Wheres my amended return Search regulations and the Internal Revenue Code. Wheres my amended return Receive our electronic newsletters on hot tax issues and news. Wheres my amended return Get information on starting and operating a small business. Wheres my amended return You can also reach us with your computer using File Transfer Protocol at ftp. Wheres my amended return irs. Wheres my amended return gov. Wheres my amended return TaxFax Service. Wheres my amended return Using the phone attached to your fax machine, you can receive forms and instructions by calling 703–368–9694. Wheres my amended return Follow the directions from the prompts. Wheres my amended return When you order forms, enter the catalog number for the form you need. Wheres my amended return The items you request will be faxed to you. Wheres my amended return For help with transmission problems, call the FedWorld Help Desk at 703–487–4608. Wheres my amended return Phone. Wheres my amended return Many services are available by phone. Wheres my amended return Ordering forms, instructions, and publications. Wheres my amended return Call 1–800–829–3676 to order current and prior year forms, instructions, and publications. Wheres my amended return Asking tax questions. Wheres my amended return Call the IRS with your tax questions at 1–800–829–1040. Wheres my amended return TTY/TDD equipment. Wheres my amended return If you have access to TTY/TDD equipment, call 1–800–829–4059 to ask tax questions or to order forms and publications. Wheres my amended return TeleTax topics. Wheres my amended return Call 1–800–829–4477 to listen to pre-recorded messages covering various tax topics. Wheres my amended return Evaluating the quality of our telephone services. Wheres my amended return To ensure that IRS representatives give accurate, courteous, and professional answers, we evaluate the quality of our telephone services in several ways. Wheres my amended return A second IRS representative sometimes monitors live telephone calls. Wheres my amended return That person only evaluates the IRS assistor and does not keep a record of any taxpayer's name or tax identification number. Wheres my amended return We sometimes record telephone calls to evaluate IRS assistors objectively. Wheres my amended return We hold these recordings no longer than one week and use them only to measure the quality of assistance. Wheres my amended return We value our customers' opinions. Wheres my amended return Throughout this year, we will be surveying our customers for their opinions on our service. Wheres my amended return Walk-in. Wheres my amended return You can walk in to many post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Wheres my amended return Some IRS offices, libraries, grocery stores, copy centers, city and county governments, credit unions, and office supply stores have an extensive collection of products available to print from a CD-ROM or photocopy from reproducible proofs. Wheres my amended return Also, some IRS offices and libraries have the Internal Revenue Code, regulations, Internal Revenue Bulletins, and Cumulative Bulletins available for research purposes. Wheres my amended return Mail. Wheres my amended return You can send your order for forms, instructions, and publications to the Distribution Center nearest to you and receive a response within 10 workdays after your request is received. Wheres my amended return Find the address that applies to your part of the country. Wheres my amended return Western part of U. Wheres my amended return S. Wheres my amended return : Western Area Distribution Center Rancho Cordova, CA 95743–0001 Central part of U. Wheres my amended return S. Wheres my amended return : Central Area Distribution Center P. Wheres my amended return O. Wheres my amended return Box 8903 Bloomington, IL 61702–8903 Eastern part of U. Wheres my amended return S. Wheres my amended return and foreign addresses: Eastern Area Distribution Center P. Wheres my amended return O. Wheres my amended return Box 85074 Richmond, VA 23261–5074 CD-ROM. Wheres my amended return You can order IRS Publication 1796, Federal Tax Products on CD-ROM, and obtain: Current tax forms, instructions, and publications. Wheres my amended return Prior-year tax forms and instructions. Wheres my amended return Popular tax forms that may be filled in electronically, printed out for submission, and saved for recordkeeping. Wheres my amended return Internal Revenue Bulletins. Wheres my amended return The CD-ROM can be purchased from National Technical Information Service (NTIS) by calling 1–877–233–6767 or on the Internet at www. Wheres my amended return irs. Wheres my amended return gov. Wheres my amended return The first release is available in mid-December and the final release is available in late January. Wheres my amended return IRS Publication 3207, Small Business Resource Guide, is an interactive CD-ROM that contains information important to small businesses. Wheres my amended return It is available in mid-February. Wheres my amended return You can get a free copy by calling 1–800–829–3676 or visiting the IRS web site at www. Wheres my amended return irs. Wheres my amended return gov. Wheres my amended return Prev  Up  Next   Home   More Online Publications
Español

Federal Aviation Administration (FAA)

The FAA works to ensure that all air travel is safe.

Contact the Agency or Department

Website: Federal Aviation Administration (FAA)

Address: 800 Independence Ave., SW
Washington, DC 20591

Phone Number: 202-366-4000

Toll-free: 1-866-835-5322

The Wheres My Amended Return

Wheres my amended return 2. Wheres my amended return   Simplified Employee Pensions (SEPs) Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: Setting Up a SEPWhen not to use Form 5305-SEP. Wheres my amended return How Much Can I Contribute?Contribution Limits Deducting ContributionsDeduction Limit for Contributions for Participants Deduction Limit for Self-Employed Individuals Carryover of Excess SEP Contributions When To Deduct Contributions Where To Deduct Contributions Salary Reduction Simplified Employee Pensions (SARSEPs)SARSEP ADP test. Wheres my amended return Deferral percentage. Wheres my amended return Employee compensation. Wheres my amended return Compensation of self-employed individuals. Wheres my amended return Choice not to treat deferrals as compensation. Wheres my amended return Limit on Elective Deferrals Tax Treatment of Deferrals Distributions (Withdrawals) Additional TaxesEffects on employee. Wheres my amended return Reporting and Disclosure Requirements Topics - This chapter discusses: Setting up a SEP How much can I contribute Deducting contributions Salary reduction simplified employee pensions (SARSEPs) Distributions (withdrawals) Additional taxes Reporting and disclosure requirements Useful Items - You may want to see: Publication 590 Individual Retirement Arrangements (IRAs) 3998 Choosing A Retirement Solution for Your Small Business 4285 SEP Checklist 4286 SARSEP Checklist 4333 SEP Retirement Plans for Small Businesses 4336 SARSEP for Small Businesses 4407 SARSEP—Key Issues and Assistance Forms (and Instructions) W-2 Wage and Tax Statement 1040 U. Wheres my amended return S. Wheres my amended return Individual Income Tax Return 5305-SEP Simplified Employee Pension—Individual Retirement Accounts Contribution Agreement 5305A-SEP Salary Reduction Simplified Employee Pension—Individual Retirement Accounts Contribution Agreement 8880 Credit for Qualified Retirement Savings Contributions 8881 Credit for Small Employer Pension Plan Startup Costs A SEP is a written plan that allows you to make contributions toward your own retirement and your employees' retirement without getting involved in a more complex qualified plan. Wheres my amended return Under a SEP, you make contributions to a traditional individual retirement arrangement (called a SEP-IRA) set up by or for each eligible employee. Wheres my amended return A SEP-IRA is owned and controlled by the employee, and you make contributions to the financial institution where the SEP-IRA is maintained. Wheres my amended return SEP-IRAs are set up for, at a minimum, each eligible employee (defined below). Wheres my amended return A SEP-IRA may have to be set up for a leased employee (defined in chapter 1), but does not need to be set up for excludable employees (defined later). Wheres my amended return Eligible employee. Wheres my amended return   An eligible employee is an individual who meets all the following requirements. Wheres my amended return Has reached age 21. Wheres my amended return Has worked for you in at least 3 of the last 5 years. Wheres my amended return Has received at least $550 in compensation from you in 2013. Wheres my amended return This amount remains the same in 2014. Wheres my amended return    You can use less restrictive participation requirements than those listed, but not more restrictive ones. Wheres my amended return Excludable employees. Wheres my amended return   The following employees can be excluded from coverage under a SEP. Wheres my amended return Employees covered by a union agreement and whose retirement benefits were bargained for in good faith by the employees' union and you. Wheres my amended return Nonresident alien employees who have received no U. Wheres my amended return S. Wheres my amended return source wages, salaries, or other personal services compensation from you. Wheres my amended return For more information about nonresident aliens, see Publication 519, U. Wheres my amended return S. Wheres my amended return Tax Guide for Aliens. Wheres my amended return Setting Up a SEP There are three basic steps in setting up a SEP. Wheres my amended return You must execute a formal written agreement to provide benefits to all eligible employees. Wheres my amended return You must give each eligible employee certain information about the SEP. Wheres my amended return A SEP-IRA must be set up by or for each eligible employee. Wheres my amended return Many financial institutions will help you set up a SEP. Wheres my amended return Formal written agreement. Wheres my amended return   You must execute a formal written agreement to provide benefits to all eligible employees under a SEP. Wheres my amended return You can satisfy the written agreement requirement by adopting an IRS model SEP using Form 5305-SEP. Wheres my amended return However, see When not to use Form 5305-SEP, below. Wheres my amended return   If you adopt an IRS model SEP using Form 5305-SEP, no prior IRS approval or determination letter is required. Wheres my amended return Keep the original form. Wheres my amended return Do not file it with the IRS. Wheres my amended return Also, using Form 5305-SEP will usually relieve you from filing annual retirement plan information returns with the IRS and the Department of Labor. Wheres my amended return See the Form 5305-SEP instructions for details. Wheres my amended return If you choose not to use Form 5305-SEP, you should seek professional advice in adopting a SEP. Wheres my amended return When not to use Form 5305-SEP. Wheres my amended return   You cannot use Form 5305-SEP if any of the following apply. Wheres my amended return You currently maintain any other qualified retirement plan other than another SEP. Wheres my amended return You have any eligible employees for whom IRAs have not been set up. Wheres my amended return You use the services of leased employees, who are not your common-law employees (as described in chapter 1). Wheres my amended return You are a member of any of the following unless all eligible employees of all the members of these groups, trades, or businesses participate under the SEP. Wheres my amended return An affiliated service group described in section 414(m). Wheres my amended return A controlled group of corporations described in section 414(b). Wheres my amended return Trades or businesses under common control described in section 414(c). Wheres my amended return You do not pay the cost of the SEP contributions. Wheres my amended return Information you must give to employees. Wheres my amended return   You must give each eligible employee a copy of Form 5305-SEP, its instructions, and the other information listed in the Form 5305-SEP instructions. Wheres my amended return An IRS model SEP is not considered adopted until you give each employee this information. Wheres my amended return Setting up the employee's SEP-IRA. Wheres my amended return   A SEP-IRA must be set up by or for each eligible employee. Wheres my amended return SEP-IRAs can be set up with banks, insurance companies, or other qualified financial institutions. Wheres my amended return You send SEP contributions to the financial institution where the SEP-IRA is maintained. Wheres my amended return Deadline for setting up a SEP. Wheres my amended return   You can set up a SEP for any year as late as the due date (including extensions) of your income tax return for that year. Wheres my amended return Credit for startup costs. Wheres my amended return   You may be able to claim a tax credit for part of the ordinary and necessary costs of starting a SEP that first became effective in 2013. Wheres my amended return For more information, see Credit for startup costs under Reminders, earlier. Wheres my amended return How Much Can I Contribute? The SEP rules permit you to contribute a limited amount of money each year to each employee's SEP-IRA. Wheres my amended return If you are self-employed, you can contribute to your own SEP-IRA. Wheres my amended return Contributions must be in the form of money (cash, check, or money order). Wheres my amended return You cannot contribute property. Wheres my amended return However, participants may be able to transfer or roll over certain property from one retirement plan to another. Wheres my amended return See Publication 590 for more information about rollovers. Wheres my amended return You do not have to make contributions every year. Wheres my amended return But if you make contributions, they must be based on a written allocation formula and must not discriminate in favor of highly compensated employees (defined in chapter 1). Wheres my amended return When you contribute, you must contribute to the SEP-IRAs of all participants who actually performed personal services during the year for which the contributions are made, including employees who die or terminate employment before the contributions are made. Wheres my amended return Contributions are deductible within limits, as discussed later, and generally are not taxable to the plan participants. Wheres my amended return A SEP-IRA cannot be a Roth IRA. Wheres my amended return Employer contributions to a SEP-IRA will not affect the amount an individual can contribute to a Roth or traditional IRA. Wheres my amended return Unlike regular contributions to a traditional IRA, contributions under a SEP can be made to participants over age 70½. Wheres my amended return If you are self-employed, you can also make contributions under the SEP for yourself even if you are over 70½. Wheres my amended return Participants age 70½ or over must take required minimum distributions. Wheres my amended return Time limit for making contributions. Wheres my amended return   To deduct contributions for a year, you must make the contributions by the due date (including extensions) of your tax return for the year. Wheres my amended return Contribution Limits Contributions you make for 2013 to a common-law employee's SEP-IRA cannot exceed the lesser of 25% of the employee's compensation or $51,000. Wheres my amended return Compensation generally does not include your contributions to the SEP. Wheres my amended return The SEP plan document will specify how the employer contribution is determined and how it will be allocated to participants. Wheres my amended return Example. Wheres my amended return Your employee, Mary Plant, earned $21,000 for 2013. Wheres my amended return The maximum contribution you can make to her SEP-IRA is $5,250 (25% x $21,000). Wheres my amended return Contributions for yourself. Wheres my amended return   The annual limits on your contributions to a common-law employee's SEP-IRA also apply to contributions you make to your own SEP-IRA. Wheres my amended return However, special rules apply when figuring your maximum deductible contribution. Wheres my amended return See Deduction Limit for Self-Employed Individuals , later. Wheres my amended return Annual compensation limit. Wheres my amended return   You cannot consider the part of an employee's compensation over $255,000 when figuring your contribution limit for that employee. Wheres my amended return However, $51,000 is the maximum contribution for an eligible employee. Wheres my amended return These limits are $260,000 and $52,000, respectively, in 2014. Wheres my amended return Example. Wheres my amended return Your employee, Susan Green, earned $210,000 for 2013. Wheres my amended return Because of the maximum contribution limit for 2013, you can only contribute $51,000 to her SEP-IRA. Wheres my amended return More than one plan. Wheres my amended return   If you contribute to a defined contribution plan (defined in chapter 4), annual additions to an account are limited to the lesser of $51,000 or 100% of the participant's compensation. Wheres my amended return When you figure this limit, you must add your contributions to all defined contribution plans maintained by you. Wheres my amended return Because a SEP is considered a defined contribution plan for this limit, your contributions to a SEP must be added to your contributions to other defined contribution plans you maintain. Wheres my amended return Tax treatment of excess contributions. Wheres my amended return   Excess contributions are your contributions to an employee's SEP-IRA (or to your own SEP-IRA) for 2013 that exceed the lesser of the following amounts. Wheres my amended return 25% of the employee's compensation (or, for you, 20% of your net earnings from self-employment). Wheres my amended return $51,000. Wheres my amended return Excess contributions are included in the employee's income for the year and are treated as contributions by the employee to his or her SEP-IRA. Wheres my amended return For more information on employee tax treatment of excess contributions, see chapter 1 in Publication 590. Wheres my amended return Reporting on Form W-2. Wheres my amended return   Do not include SEP contributions on your employee's Form W-2 unless contributions were made under a salary reduction arrangement (discussed later). Wheres my amended return Deducting Contributions Generally, you can deduct the contributions you make each year to each employee's SEP-IRA. Wheres my amended return If you are self-employed, you can deduct the contributions you make each year to your own SEP-IRA. Wheres my amended return Deduction Limit for Contributions for Participants The most you can deduct for your contributions to you or your employee's SEP-IRA is the lesser of the following amounts. Wheres my amended return Your contributions (including any excess contributions carryover). Wheres my amended return 25% of the compensation (limited to $255,000 per participant) paid to the participants during 2013 from the business that has the plan, not to exceed $51,000 per participant. Wheres my amended return In 2014, the amounts in (2) above are $260,000 and $52,000, respectively. Wheres my amended return Deduction Limit for Self-Employed Individuals If you contribute to your own SEP-IRA, you must make a special computation to figure your maximum deduction for these contributions. Wheres my amended return When figuring the deduction for contributions made to your own SEP-IRA, compensation is your net earnings from self-employment (defined in chapter 1), which takes into account both the following deductions. Wheres my amended return The deduction for the deductible part of your self-employment tax. Wheres my amended return The deduction for contributions to your own SEP-IRA. Wheres my amended return The deduction for contributions to your own SEP-IRA and your net earnings depend on each other. Wheres my amended return For this reason, you determine the deduction for contributions to your own SEP-IRA indirectly by reducing the contribution rate called for in your plan. Wheres my amended return To do this, use the Rate Table for Self-Employed or the Rate Worksheet for Self-Employed, whichever is appropriate for your plan's contribution rate, in chapter 5. Wheres my amended return Then figure your maximum deduction by using the Deduction Worksheet for Self-Employed in chapter 5. Wheres my amended return Carryover of Excess SEP Contributions If you made SEP contributions that are more than the deduction limit (nondeductible contributions), you can carry over and deduct the difference in later years. Wheres my amended return However, the carryover, when combined with the contribution for the later year, is subject to the deduction limit for that year. Wheres my amended return If you also contributed to a defined benefit plan or defined contribution plan, see Carryover of Excess Contributions under Employer Deduction in chapter 4 for the carryover limit. Wheres my amended return Excise tax. Wheres my amended return   If you made nondeductible (excess) contributions to a SEP, you may be subject to a 10% excise tax. Wheres my amended return For information about the excise tax, see Excise Tax for Nondeductible (Excess) Contributions under Employer Deduction in chapter 4. Wheres my amended return When To Deduct Contributions When you can deduct contributions made for a year depends on the tax year on which the SEP is maintained. Wheres my amended return If the SEP is maintained on a calendar year basis, you deduct the yearly contributions on your tax return for the year within which the calendar year ends. Wheres my amended return If you file your tax return and maintain the SEP using a fiscal year or short tax year, you deduct contributions made for a year on your tax return for that year. Wheres my amended return Example. Wheres my amended return You are a fiscal year taxpayer whose tax year ends June 30. Wheres my amended return You maintain a SEP on a calendar year basis. Wheres my amended return You deduct SEP contributions made for calendar year 2013 on your tax return for your tax year ending June 30, 2014. Wheres my amended return Where To Deduct Contributions Deduct the contributions you make for your common-law employees on your tax return. Wheres my amended return For example, sole proprietors deduct them on Schedule C (Form 1040) or Schedule F (Form 1040), Profit or Loss From Farming; partnerships deduct them on Form 1065, U. Wheres my amended return S. Wheres my amended return Return of Partnership Income; and corporations deduct them on Form 1120, U. Wheres my amended return S. Wheres my amended return Corporation Income Tax Return, or Form 1120S, U. Wheres my amended return S. Wheres my amended return Income Tax Return for an S Corporation. Wheres my amended return Sole proprietors and partners deduct contributions for themselves on line 28 of Form 1040. Wheres my amended return (If you are a partner, contributions for yourself are shown on the Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc. Wheres my amended return , you receive from the partnership. Wheres my amended return ) Remember that sole proprietors and partners can't deduct as a business expense contributions made to a SEP for themselves, only those made for their common-law employees. Wheres my amended return Salary Reduction Simplified Employee Pensions (SARSEPs) A SARSEP is a SEP set up before 1997 that includes a salary reduction arrangement. Wheres my amended return (See the Caution, next. Wheres my amended return ) Under a SARSEP, your employees can choose to have you contribute part of their pay to their SEP-IRAs rather than receive it in cash. Wheres my amended return This contribution is called an “elective deferral” because employees choose (elect) to set aside the money, and they defer the tax on the money until it is distributed to them. Wheres my amended return You are not allowed to set up a SARSEP after 1996. Wheres my amended return However, participants (including employees hired after 1996) in a SARSEP set up before 1997 can continue to have you contribute part of their pay to the plan. Wheres my amended return If you are interested in setting up a retirement plan that includes a salary reduction arrangement, see chapter 3. Wheres my amended return Who can have a SARSEP?   A SARSEP set up before 1997 is available to you and your eligible employees only if all the following requirements are met. Wheres my amended return At least 50% of your employees eligible to participate choose to make elective deferrals. Wheres my amended return You have 25 or fewer employees who were eligible to participate in the SEP at any time during the preceding year. Wheres my amended return The elective deferrals of your highly compensated employees meet the SARSEP ADP test. Wheres my amended return SARSEP ADP test. Wheres my amended return   Under the SARSEP ADP test, the amount deferred each year by each eligible highly compensated employee as a percentage of pay (the deferral percentage) cannot be more than 125% of the average deferral percentage (ADP) of all non-highly compensated employees eligible to participate. Wheres my amended return A highly compensated employee is defined in chapter 1. Wheres my amended return Deferral percentage. Wheres my amended return   The deferral percentage for an employee for a year is figured as follows. Wheres my amended return   The elective employer contributions (excluding certain catch-up contributions)  paid to the SEP for the employee for the year     The employee's compensation (limited to $255,000 in 2013)   The instructions for Form 5305A-SEP have a worksheet you can use to determine whether the elective deferrals of your highly compensated employees meet the SARSEP ADP test. Wheres my amended return Employee compensation. Wheres my amended return   For figuring the deferral percentage, compensation is generally the amount you pay to the employee for the year. Wheres my amended return Compensation includes the elective deferral and other amounts deferred in certain employee benefit plans. Wheres my amended return See Compensation in chapter 1. Wheres my amended return Elective deferrals under the SARSEP are included in figuring your employees' deferral percentage even though they are not included in the income of your employees for income tax purposes. Wheres my amended return Compensation of self-employed individuals. Wheres my amended return   If you are self-employed, compensation is your net earnings from self-employment as defined in chapter 1. Wheres my amended return   Compensation does not include tax-free items (or deductions related to them) other than foreign earned income and housing cost amounts. Wheres my amended return Choice not to treat deferrals as compensation. Wheres my amended return   You can choose not to treat elective deferrals (and other amounts deferred in certain employee benefit plans) for a year as compensation under your SARSEP. Wheres my amended return Limit on Elective Deferrals The most a participant can choose to defer for calendar year 2013 is the lesser of the following amounts. Wheres my amended return 25% of the participant's compensation (limited to $255,000 of the participant's compensation). Wheres my amended return $17,500. Wheres my amended return The $17,500 limit applies to the total elective deferrals the employee makes for the year to a SEP and any of the following. Wheres my amended return Cash or deferred arrangement (section 401(k) plan). Wheres my amended return Salary reduction arrangement under a tax-sheltered annuity plan (section 403(b) plan). Wheres my amended return SIMPLE IRA plan. Wheres my amended return In 2014, the $255,000 limit increases to $260,000 and the $17,500 limit remains at $17,500. Wheres my amended return Catch-up contributions. Wheres my amended return   A SARSEP can permit participants who are age 50 or over at the end of the calendar year to also make catch-up contributions. Wheres my amended return The catch-up contribution limit for 2013 is $5,500 and remains at $5,500 for 2014. Wheres my amended return Elective deferrals are not treated as catch-up contributions for 2013 until they exceed the elective deferral limit (the lesser of 25% of compensation or $17,500), the SARSEP ADP test limit discussed earlier, or the plan limit (if any). Wheres my amended return However, the catch-up contribution a participant can make for a year cannot exceed the lesser of the following amounts. Wheres my amended return The catch-up contribution limit. Wheres my amended return The excess of the participant's compensation over the elective deferrals that are not catch-up contributions. Wheres my amended return   Catch-up contributions are not subject to the elective deferral limit (the lesser of 25% of compensation or $17,500 in 2013 and in 2014). Wheres my amended return Overall limit on SEP contributions. Wheres my amended return   If you also make nonelective contributions to a SEP-IRA, the total of the nonelective and elective contributions to that SEP-IRA cannot exceed the lesser of 25% of the employee's compensation or $51,000 for 2013 ($52,000 for 2014). Wheres my amended return The same rule applies to contributions you make to your own SEP-IRA. Wheres my amended return See Contribution Limits , earlier. Wheres my amended return Figuring the elective deferral. Wheres my amended return   For figuring the 25% limit on elective deferrals, compensation does not include SEP contributions, including elective deferrals or other amounts deferred in certain employee benefit plans. Wheres my amended return Tax Treatment of Deferrals Elective deferrals that are not more than the limits discussed earlier under Limit on Elective Deferrals are excluded from your employees' wages subject to federal income tax in the year of deferral. Wheres my amended return However, these deferrals are included in wages for social security, Medicare, and federal unemployment (FUTA) tax. Wheres my amended return Excess deferrals. Wheres my amended return   For 2013, excess deferrals are the elective deferrals for the year that are more than the $17,500 limit discussed earlier. Wheres my amended return For a participant who is eligible to make catch-up contributions, excess deferrals are the elective deferrals that are more than $23,000. Wheres my amended return The treatment of excess deferrals made under a SARSEP is similar to the treatment of excess deferrals made under a qualified plan. Wheres my amended return See Treatment of Excess Deferrals under Elective Deferrals (401(k) Plans) in chapter 4. Wheres my amended return Excess SEP contributions. Wheres my amended return   Excess SEP contributions are elective deferrals of highly compensated employees that are more than the amount permitted under the SARSEP ADP test. Wheres my amended return You must notify your highly compensated employees within 2½ months after the end of the plan year of their excess SEP contributions. Wheres my amended return If you do not notify them within this time period, you must pay a 10% tax on the excess. Wheres my amended return For an explanation of the notification requirements, see Rev. Wheres my amended return Proc. Wheres my amended return 91-44, 1991-2 C. Wheres my amended return B. Wheres my amended return 733. Wheres my amended return If you adopted a SARSEP using Form 5305A-SEP, the notification requirements are explained in the instructions for that form. Wheres my amended return Reporting on Form W-2. Wheres my amended return   Do not include elective deferrals in the “Wages, tips, other compensation” box of Form W-2. Wheres my amended return You must, however, include them in the “Social security wages” and “Medicare wages and tips” boxes. Wheres my amended return You must also include them in box 12. Wheres my amended return Mark the “Retirement plan” checkbox in box 13. Wheres my amended return For more information, see the Form W-2 instructions. Wheres my amended return Distributions (Withdrawals) As an employer, you cannot prohibit distributions from a SEP-IRA. Wheres my amended return Also, you cannot make your contributions on the condition that any part of them must be kept in the account after you have made your contributions to the employee's accounts. Wheres my amended return Distributions are subject to IRA rules. Wheres my amended return Generally, you or your employee must begin to receive distributions from a SEP-IRA by April 1 of the first year after the calendar year in which you or your employee reaches age 70½. Wheres my amended return For more information about IRA rules, including the tax treatment of distributions, rollovers, required distributions, and income tax withholding, see Publication 590. Wheres my amended return Additional Taxes The tax advantages of using SEP-IRAs for retirement savings can be offset by additional taxes that may be imposed for all the following actions. Wheres my amended return Making excess contributions. Wheres my amended return Making early withdrawals. Wheres my amended return Not making required withdrawals. Wheres my amended return For information about these taxes, see chapter 1 in Publication 590. Wheres my amended return Also, a SEP-IRA may be disqualified, or an excise tax may apply, if the account is involved in a prohibited transaction, discussed next. Wheres my amended return Prohibited transaction. Wheres my amended return   If an employee improperly uses his or her SEP-IRA, such as by borrowing money from it, the employee has engaged in a prohibited transaction. Wheres my amended return In that case, the SEP-IRA will no longer qualify as an IRA. Wheres my amended return For a list of prohibited transactions, see Prohibited Transactions in chapter 4. Wheres my amended return Effects on employee. Wheres my amended return   If a SEP-IRA is disqualified because of a prohibited transaction, the assets in the account will be treated as having been distributed to the employee on the first day of the year in which the transaction occurred. Wheres my amended return The employee must include in income the fair market value of the assets (on the first day of the year) that is more than any cost basis in the account. Wheres my amended return Also, the employee may have to pay the additional tax for making early withdrawals. Wheres my amended return Reporting and Disclosure Requirements If you set up a SEP using Form 5305-SEP, you must give your eligible employees certain information about the SEP when you set it up. Wheres my amended return See Setting Up a SEP , earlier. Wheres my amended return Also, you must give your eligible employees a statement each year showing any contributions to their SEP-IRAs. Wheres my amended return You must also give them notice of any excess contributions. Wheres my amended return For details about other information you must give them, see the instructions for Form 5305-SEP or Form 5305A-SEP (for a salary reduction SEP). Wheres my amended return Even if you did not use Form 5305-SEP or Form 5305A-SEP to set up your SEP, you must give your employees information similar to that described above. Wheres my amended return For more information, see the instructions for either Form 5305-SEP or Form 5305A-SEP. Wheres my amended return Prev  Up  Next   Home   More Online Publications