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T h e E m p l o y e Ma g a z i n e o f T e an m B N S FS E P T EM B E R / O C T O B E R 2 0 0 8Best practices ensure site safety
team effectivenessDelivering power
to the peacemaking tracks
to the
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What is s e p t?
SEP stands for Simplified Employee Pension, which is a retirement plan that allows employers to make tax-deductible contributions on behalf of their employees.
Who is required to file s e p t?
Employers who have adopted a SEP plan for their employees are required to file Form 5305-SEP with the IRS.
How to fill out s e p t?
To fill out a SEP plan, employers need to provide information about themselves, their employees, and the contributions made to the plan.
What is the purpose of s e p t?
The purpose of a SEP plan is to provide employees with a tax-advantaged way to save for retirement while allowing employers to make contributions on their behalf.
What information must be reported on s e p t?
On Form 5305-SEP, employers must report information about the plan, including the employer's name and address, the names of eligible employees, and the amount of contributions made.
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