What are the SEP IRA reporting requirements?

The IRS requires that contributions to a SEP IRA be reported on the IRS Form 5498 for the calendar year they are actually deposited to the account, regardless of the year for which they are made.

Note

  • This date may not be the IRA owner's/employer's tax deduction year. It is the employer’s responsibility to claim the deduction for the appropriate tax year.
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IRA: Tax reporting
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What is the purpose of Form 5498?