How to File IRS Form 5305-Sep

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The Internal Revenue Service's form 5305-SEP, or simplified employee pension, form helps you write out the individual retirement accounts contribution agreement if you are a business owner and pay money into a worker's 401(k) plan. The form, although issued by the IRS, is not filed with the IRS. In fact, you do not actually need to fill out the form, but it does make record-keeping easier in the long run.

Things You'll Need

  • Computer with Internet access
  • IRS 5305-SEP form

Download and print or pick up a copy of the 5305-SEP form.

Write the age the employees need to be before receiving payments into their 401(k) and the amount of time they need to work for you before receiving benefit payments.

Check off all boxes that apply to who you can pay, if they can be nonresident aliens and if you have a collective bargaining agreement.

Sign and date the form under Article II and write your name and business title next to it. File this form away and present a copy of it to all new hires or individuals about to receive payments into their retirement funds.

Tips & Warnings

  • This form is only used as a helpful reminder to you, nothing more and nothing less.

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