Q. Can I combine an IRA that was a 401(k) rollover with a SEP-IRA? I want to simplify and consolidate.
A. You sure can.
Rollovers from traditional IRAs that started as a 401(k) are permitted to be rolled into a SEP-IRA, said Bill Connington of of Connington Wealth Management in Fairfield.
Connington said you can then continue to make contributions to your SEP-IRA.
“You can only perform one rollover per 12 month period,” he said. “By rolling over you will be able to simplify and consolidate retirement investments and have what should be more options available to achieve your financial goals.”
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