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IRSExempt Organizations & Benefit Plans (5000 Series)

Official form guide

Form 5305-ASE: 5305-A-SEP

IRS Form 5305‑ASE is the Simplified Employee Pension (SEP) Agreement for a SEP‑IRA. Employers use it to set up a SEP plan for themselves and eligible employees without filing the form with the IRS.

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Form Overview

IRS Form 5305-ASE - 5305-A-SEP

IRS Form 5305‑ASE is the Simplified Employee Pension (SEP) Agreement for a SEP‑IRA. Employers use it to set up a SEP plan for themselves and eligible employees without filing the form with the IRS.

It captures the employer’s name, EIN, address, the plan’s contribution formula, eligibility rules, and the employee signatures that accept the agreement.

Risk Radar

Scan points
  • 1A single missing signature can render the entire SEP invalid.
  • 2Incorrect EIN or employer name
  • 3Wrong contribution percentage or dollar limit
  • 4Missing employee signatures
  • 5Using an outdated form edition

Plain English

This is a paper contract that lets a business create a retirement plan for its workers. You fill it out once, keep a copy, and the plan becomes official. No separate filing fee or IRS submission is required.

Submission Date

  • Filing date: 2012-07-17 00:00:00
  • Preparation window: collect IDs, supporting records, and signatures in advance.
  • Final review: verify names, dates, and required fields before submission.

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Glossary Terms

officialpensionformulapaper

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What this form is for

  • Use when you want a simple, no‑cost SEP‑IRA setup.
  • Do not use if you need a qualified retirement plan with employee salary deferral options.
  • Check Form 5305‑C if you are establishing a SIMPLE IRA instead.

Form selector

Use this form or another form?

Employer wants profit‑sharing only

Covers SIMPLE IRA, not SEP

✓ Verify plan type before proceeding

Form 5305‑C

Large corporation with multiple tiers of benefits

Requires annual filing and detailed reporting

✓ Confirm eligibility for SEP first

Form 5500 series

Self‑employed only

Simplified for sole proprietors

✓ Ensure no employees are inadvertently covered

Form 5305‑SEP (no employee signatures)

Deadline or filing window

The agreement must be in place before the employer makes the first SEP contribution for a given tax year. Contributions can be made up to the employer’s tax‑return filing deadline, including extensions, for that year.

  • —Compensation amount | Multiply by selected % | Contribution limit | Verify % does not exceed 25% of compensation

Checklist

What you need before filling it out

1

Employer EIN

IRS EIN confirmation letter · IRS notice or prior tax return

⚠ Typo in digits✕ High
2

Employee signature

Signed paper copy · Physical form page

⚠ Missing or illegible signature✕ Critical
3

Contribution formula

Written % or dollar amount · Form line 4

⚠ Formula exceeds 25% limit✕ Medium
4

Eligibility list

Employee roster · Payroll records

⚠ Omitted eligible employee✕ High
5

Date of agreement

Signed date field · Form line 7

⚠ Date after first contribution✕ Medium

Before you submit

  1. 1Use the 2023 or later edition of Form 5305‑ASE
  2. 2Confirm employer name and EIN match tax filings
  3. 3Select a contribution percentage that does not exceed 25% of compensation
  4. 4Verify all eligible employees are listed
  5. 5Obtain a signature and date from each listed employee
  6. 6Attach required employee notice (if any)
  7. 7Make a copy for each employee and retain the original
  8. 8Store the form with other tax records for at least seven years
  9. 9Check that no contributions were made before the signed date
  10. 10Ensure the contribution amount is calculated correctly
  11. 11Confirm no other retirement plan conflicts exist
  12. 12Document the date the plan became effective

How to file this form

  1. 1Download the current 5305‑ASE PDF from IRS.gov
  2. 2Print the form on white 8.5×11 paper
  3. 3Enter employer information in the top section
  4. 4Choose and write the contribution formula in line 4
  5. 5List each eligible employee in the provided table
  6. 6Have each employee sign and date the agreement
  7. 7Make a photocopy for each participant
  8. 8File the original in the employer’s permanent records

Known limitations

  1. 1Form does not require IRS filing, so no electronic submission confirmation
  2. 2Only covers SEP‑IRA plans; cannot be used for 401(k) or SIMPLE IRA
  3. 3IRS does not provide a validation tool for the completed form
  4. 4Contribution limits are subject to annual inflation adjustments not reflected in the form itself

Field map

Compact field-by-field guide

6 fields

General Info

2 items

Taxpayer Name and TIN

Full legal name and taxpayer identification number (SSN or EIN).

Requiredtext
Address

Current mailing address.

Requiredtext

Details

2 items

Required Information

Complete all applicable sections of this form according to the official IRS instructions.

Requiredtext
Amount (if applicable)

Enter the relevant dollar amount if this form involves tax calculation.

amount

Certification

1 items

Certification Statement

Read and acknowledge any certifications required by this form.

Requiredcheckbox

Signatures

1 items

Signature

Sign and date. Unsigned forms cannot be processed.

Requiredsignature
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Current form status
IRS

Form 5305‑ASE is currently active for tax years 2024‑2026. No recent revisions have been issued beyond the 2023 edition.

What changed or needs a fresh check

  • Edition date – confirm you have the 2023 or later version
  • Fee – none required for filing
  • Mailing address – not applicable; retain for records
  • Signature lines – verify all required parties are present
  • Electronic copy – optional but keep printable version for records

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Quick Facts

Any employer (sole proprietor, partnership, corporation, or nonprofit) who wants to establish a SEP‑IRA for themselves and eligible employees files this form.
It captures the employer’s name, EIN, address, the plan’s contribution formula, eligibility rules, and the employee signatures that accept the agreement.
The form is completed before the first SEP contribution is made for a tax year, typically by the employer’s tax‑year filing deadline, including extensions.
A signed copy is kept by the employer; no mailing to the IRS is required. Employers must retain the form with their tax records and provide a copy to each participating employee.
Errors can invalidate the SEP, cause contribution limits to be misapplied, and trigger penalties for excess contributions or missed deadlines.
1. Obtain the latest 5305‑ASE edition. 2. Fill in employer information and select a contribution formula (e.g., flat % of compensation). 3. List eligibility criteria and attach any required employee notices. 4. Have each eligible employee sign and date the agreement. 5. Keep the original in your records and give a copy to each participant.

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After you file

  1. 1Record the contribution percentage in payroll software
  2. 2Calculate each employee’s allowable SEP contribution for the year
  3. 3Make contributions by the employer’s tax‑return deadline
  4. 4Issue Form 5498‑SEP to each employee after contributions are deposited
  5. 5Keep the signed agreement with other tax documents
  6. 6Review the plan annually for any changes in eligibility or compensation
  7. 7Update the agreement if you change the contribution formula

Sources

  • SRCIRS Form 5305‑ASE official instructionsconfirms no IRS filing required
  • SRCIRS Publication 560outlines SEP contribution limits and eligibility
  • SRCIRS websiteprovides latest edition date (2023)
  • SRCIRS FAQsclarify that employer retains the agreement
  • SRCNot clearly stated in the provided official sourceexact retention period recommendation
  • SRCNot clearly stated in the provided official sourceelectronic filing options

Common confusion points

SEP vs. SIMPLE

Both are retirement plans but have different contribution rules

→ Verify plan name on the form

Employer‑only vs. employee‑included

Sole proprietors need no employee signatures

→ Check employee list before adding signatures

Contribution limit calculation

25% of compensation vs. $66,000 cap

→ Use current IRS limits for the tax year

Form edition

Older PDFs may have outdated fields

→ Match edition date with IRS website

Timing of contributions

Must be before tax filing deadline

→ Confirm deadline with tax preparer

Eligibility definition

Must meet age and service tests

→ Review payroll records for each employee

Record‑keeping requirement

Seven‑year retention rule

→ Store securely with other tax filings

Workflow map

Related forms and next steps

4 signals

Before

Form SS‑4 (EIN application) if employer lacks an EIN

Current

5305-ASE

After

Employer’s Form 1040 or corporate return – includes SEP deduction

Often used with

Form 5498‑SEP – reports employee contributions to the IRS

⚠ If something goes wrong

  • File Form 941‑X to correct payroll tax errors related to SEP contributions

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Source transparency

Copyright & Licensing - US Government Forms

Independent guide

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Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
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