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  1. #1
    Join Date
    Jul 2010
    Posts
    22

    Default Issued a SEP-IRA Contribution by Employer, but Hold a Regular IRA

    My employer sent me a check labeled "2011 SEP-IRA Contribution" as a pension contribution. I don't have a SEP-IRA, but do have a regular IRA account. Can I deposit this into my IRA directly? I have been told that it might just be considered ordinary income that way rather than a non-taxable contribution. I know there are lots of rules regarding how you handle retirement funds and want to make sure this gets done right! Thanks.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    73,155

    Default Re: Issued a SEP-IRA Contribution by Employer, but Hold a Regular IRA

    You can deposit the money into a SEP IRA and then, if you wish, roll it over into your traditional IRA.

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