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Exempt Organization Business Income Tax Returns, 1992 by Margaret Riley n extensive revision of the Tax Year 1992 Form 990-T, Exempt Organization Business Income Tax Return, introduced a change in
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What is form 5305 revised?
Form 5305 Revised is a document used by individual retirement account (IRA) owners and plan trustees to establish a Simplified Employee Pension Individual Retirement Arrangement (SEP-IRA). It is a revised version of Form 5305, designed to meet specific requirements set by the Internal Revenue Service (IRS).
Who is required to file form 5305 revised?
Both IRA owners and plan trustees are required to file Form 5305 Revised when establishing a Simplified Employee Pension Individual Retirement Arrangement (SEP-IRA).
How to fill out form 5305 revised?
To fill out Form 5305 Revised, individuals need to provide information such as their name, address, Social Security number, employment information, and details of the SEP-IRA plan. It is recommended to consult the instructions provided by the IRS or seek professional assistance when filling out the form.
What is the purpose of form 5305 revised?
The purpose of Form 5305 Revised is to establish a Simplified Employee Pension Individual Retirement Arrangement (SEP-IRA) and ensure compliance with IRS regulations. It provides a standardized document for IRA owners and plan trustees to set up and maintain a SEP-IRA.
What information must be reported on form 5305 revised?
Form 5305 Revised requires information such as the name, address, and Social Security number of the IRA owner, as well as details of the SEP-IRA plan. It may also require additional information related to employment and contributions.
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