How to Merge an SEP With an IRA
- 1). Call your existing IRA custodian connected with the account that you want the money to roll into. Inform the custodian you want to roll an existing SEP IRA into the account and confirm that this custodian allows it. Request the forms for a direct rollover. Direct rollovers move retirement assets from one custodian to another unlike an indirect rollover where a check is first sent to the IRA owner to re-deposit.
- 2). Call the SEP IRA plan administrator and request any forms required on the existing administrator's end to complete the direct rollover.
- 3). Complete the rollover paperwork and submit it to each respective custodian. Most accept forms via fax or mail. Make sure the new custodian's information is the existing IRA you want to combine the SEP IRA with. Double check all account numbers, contact information and custodial addresses to prevent any delays.
