I am organized as an S-Corp for consulting I am performing. Last year I was doing similar work but was filing as self-employed. I do not have employees; it is only me.

Questions:

(1) Can I contribute to the SEP-IRA I openned last year as an individual through my S-Corp?

(2) Does my S-Corp need to open its own retirement account?

(3) for my situation, which type of retirement account should I open?

(4) Do the well known retail brokers offer S-Corp owned accounts? (i.e. Ameritrade, Fidelity, BrownCo, TD Waterhouse, Etrade etc.)

Thanks

I really wanted answers from the resident experts ... so, I am trying again.

Hi DB,

You probably need to open a new SEP IRA now that you have an S-Corp, especially if you want the S-Corp to make matching contributions.

A SEP IRA is a good option for single owner S-Corps because it allows you to put a higher amount in each year. If you have employees, or will be adding employees, you might want to compare the SEP IRA to the Simple IRA to see which type of account is better for you.

Yes, the brokers you mentioned in your email should all offer SEP IRA accounts, for individuals and companies.

Hope this helps,
Kristine