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Question
So I submitted 2553 to the federal government, what else do I need to submit ? To have my LLC treated like a s Corp. Also, how do I get a sep ira if I hired myself as an Employee.
- Anonymous
Answer
Congratulations, as long as you filed your Form 2553 on time, there is nothing more you need to do but wait for confirmation from the IRS that they accepted your filing. As far as setting up an SEP IRA, you'll need to work with a financial institution to set this up. You'll need to complete their application and fund the account. You'll also need to put together an SEP plan document that spells out the requirements and details of the plan.  Luckily, the IRS has a  document you can use.

Melissa Pedigo

Melissa Pedigo has been a CPA for over 20 years and she is one of the only CPA copywriters in the world. With a vast knowledge of U.S. tax and accounting, she’s able to write about tax and finance topics from a unique perspective...as an industry expert. When she’s not writing or being an accounting nerd, you’ll find her watching and playing tennis, reading, tending to her half-grown garden, and studying foreign languages

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