SEP IRA / Keogh Questions



SEP IRA / Keogh Questions

My friend is in a strange situation.. She has a old SEP IRA
plan at Fidelity with a some dollars which she has not
contributed to in years.

Then she opened a Keogh QRP prof Sharing plan at Schwab a
few years ago. Now she wants to contribute to her QRP Prof
Sharing...but this time at Vanguard in their index funds

She doesn't want to buy the vanguard funds at Schwab because
of the transaction fees which could be quite a bit over the
years if one trades even every 6 months and contibutes small
amounts often.

Schwab says their basic adoption plan isn't portable in
other words my friend cannot contribute to a vanguard Keogh
QRP Profit sharing account using Schawb's plan.

Dos any one have any ideas how this can be done.

Can she keep the QRP Keogh Profit sharing plan ( at Schwab)
dormant for a year or more ?

In other words can she not contribute to the QRP Prof
Sharing plan this year and instead contribute to a new
Vanguard SEP IRA plan ? ( even though she already has an old
SEP IRA account at Fidelity)?

This way she will not have to deal with the QRP Plan issue.

Any pros and cons to such an action ?

Basically this year ( and maybe coming years) she wants to
fund her retirement dollars at vanguard in their index

Pls let me know.


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