sepira age limit for contribution

[sheldon1]

Is there a limitation by age to contribute to Sep-Ira?

[JudyL]

From this page at IRS: https://www.irs.gov/retirement-plans...-contributions

"Can I contribute to the SEP-IRA of a participant over age 70 ½?

You must contribute for each employee eligible to participate in your SEP, even if they are over age 70 ½. The employee must also take minimum distributions, however. If you haven’t contributed for an eligible employee in your SEP plan, find out how you can correct this mistake."

[sheldon1]

can single member llc over 70 1/2 contribute to a SEP-IRA.

Is there limitation to an individual over 70 1/2 to contribute to a SEP-IRA without having any employees?

[kathyc2]

Is there limitation to an individual over 70 1/2 to contribute to a SEP-IRA without having any employees?

You will find the answer to that in IRS Publication 560.

[Snaggletooth]

Simple Answer is No

No age limit as long as there is earned income, subject to all the other comments that have been made.

I trust your question is for a self-employed SEP/IRA and not a "SIMPLE".

[JON]

Simple

Why would you think the Simple has an age limit for being eligible??

[JON]

Confused

Simple Plan is an employer based plan and I see no age limit as long as you are working with earned income.

[Snaggletooth]

Simple is a Double Entendre

Why would you think the Simple has an age limit for being eligible??

I don't necessarily think that. I haven't encountered the situation so I really don't know.

I cautioned readers from drawing conclusions because I used "Simple" in the title of my response. I didn't want someone taking the word and driving the train off the track.

[New York Enrolled Agent]

While the IRS cautions us that FAQs are not a source of authority, I think you can rely on this Q&A found on the IRS site.

Can I contribute to a SIMPLE IRA of a participant over age 70 ½?

Yes, you must. Employees who are age 70 ½ or over may make salary deferral contributions to their SIMPLE IRAs. Employers must continue to make matching or nonelective contributions to employees’ SIMPLE IRAs even after an employee reaches age 70 ½. However, an employee who is age 70 ½ must also begin to take required minimum distributions from the account.
Employees may not be excluded from participating in a SIMPLE IRA plan based solely on their age.