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Employee Plans Compliance Unit (EPCU) - Current Projects - Simplified Employee Pension Plans (SEPs)

Background

This project focuses on taxpayers who either sponsored a Simplified Employee Pension (SEP) and/or received a Form 5498, IRA Contribution Information, which reflected a SEP contribution amount in Box 8 of Form 5498. This project will focus on determining the accuracy of information reported on Forms 5498 and compliance with regards to SEP plans.

 


The Project Process

Compliance contact letters will be issued to a sample of taxpayers. The compliance contact letter will request the taxpayer complete a short questionnaire. Based on the response received from the taxpayer, the compliance contact case will either be closed or additional information will be requested.

If You Receive A Letter
Please provide the information requested in the letter. You may also furnish any other documents or clarifying material that you believe will be helpful for us to review. You should make every effort to be as complete and accurate as possible in your responses. If you need additional assistance, please communicate with the EPCU contact as indicated on the letter.

If You Have Questions
Please feel free to e-mail us and we will be glad to answer any questions you have about the project and how it relates to your situation. Please include “SEP” in the Subject line of the message. You may also telephone the contact person listed on the letter.

Other Resources

Page Last Reviewed or Updated: 07-Nov-2013