FREE Certified IRA Services Professional Question and Answers

Question 1

Which SEP IRA form must the employer retain for an IRS audit?

Accepted Answer

Form 5305-SEP

Answer

Form 5305-SA

Answer

Form 5305-S

Answer

Form 5304-SEP

Question 2

What might be included in an administrator disclosure statement?

Accepted Answer

All of the above

Answer

IRA Custodian’s Fees

Answer

contribution limits

Answer

investments made

Question 3

How long before the IRA is founded must the administrator give the IRA owner a disclosure statement?

Accepted Answer

7 days before

Answer

10 days before

Answer

30 days before

Answer

15 days before