Setup Employer-paid SEP IRA with BOX 13 (Retirement) checked on the W-2

The IRS states the Retirement box (Box 13) needs to be checked even if the SEP IRA is employer-paid only. The client can have a confirmation of this starting on page 17, under "Retirement Plan" of the 2013 W-2 Instructions at the link below.

http://www.irs.gov/pub/irs-pdf/iw2w3.pdf

This is true if this had been the case for a 401(k) plan where only the employer made contributions. These plans, such as 401(k), 403(b), and 408(k)(6) SEP and 408(p) SIMPLE are all related and have a lot of the same rules.

Please follow the steps below:

1. Lists > Employees > Payroll Items > New
2. Choose the Payroll Item Type: Employer Contribution
3. Select the Type: Pension Contributions (EMPLOYER).

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