Can I contribute to a Keogh or SEP plan after age 70 1/2?

Yes. You may continue to contribute to your Keogh or SEP plan if you have Self-employment income. You are required to receive a minimum distribution by April 1 of the following year in which you reach age 70 1/2 after age 70 1/2 if you are more than a 5% owner.

Need Professional Help?

If you need help with "SEP IRAs" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.