Nov 21, 2024 · Can an employer establish a SEP or SIMPLE IRA for a minor child employee? Short answer, yes. Proposed Treas. Reg. 1.408-7 (d) (2) and IRS Notice 98-4 allow an employer to …

Planning your retirement? Here are the simplified employee pension (SEP) IRA rules you should take into account.

There is no minimum age to contribute to an IRA. Minors may contribute 100% of their earned income, up to the annual contribution limit: $7,000 for 2024. Another option is to pay the child and issue a …

Aug 26, 2025 · SEP contributions and earnings are held in SEP-IRAs and can be withdrawn at any time, subject to the general limitations imposed on traditional IRAs. A withdrawal is taxable in the year …

Apr 29, 2025 · A minor IRA beneficiary refers to a child who inherits an individual retirement account. Special rules apply when a minor is named as a beneficiary, including requirements for managing the …

Apr 30, 2025 · Learn the benefits of starting a custodial IRA for your minor child, including the tax advantages, compound interest, and the step-by-step process of how to set up an IRA.

Explore the SEP IRA age limit and its impact on retirement planning for young parents.

Mar 28, 2025 · To designate a minor, you'll need to appoint a custodian to manage the IRA on their behalf until they reach the age of majority. We'll walk you through some considerations before …

Find questions and answers on Simplified Employee Pension Plans (SEP), including contributions, withdrawals, investments and more.

Sep 12, 2024 · If a minor child inherits a retirement account from someone other than their parents, the inherited IRA rules are different. The child is no longer allowed to take RMD’s from the inherited IRA …