Establishing a simplified employee pension account

Q: How do I establish a SEP account?

To do so, first complete form 5305, which formally creates the SEP, and then open an account with the specific investment company that you've chosen.

Send your money management questions to medec@advanstar.com (please include your regular postal address). Answers to our readers' questions were provided by Jesse T. Karich, financial advisor, North Star Resource Group, Minneapolis, Minnesota.