# Enrolled Agent Exam [Part 2] 93, SEP-IRA and SIMPLE-IRA Plans

Page: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-93-sep-ira-and-simple-ira-plans
Text version: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-93-sep-ira-and-simple-ira-plans.md
Podcast: [Finance Exam Prep](https://stenobird.com/podcast/finance-exam-prep-7658413)
Published: 2026-07-29T22:41:20+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/0ff52c5c-cbc5-4554-aa99-9fa4c11e7b4e.mp3
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Duration seconds: 193

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - SEP-IRA contributions are made only by the employer and are discretionary each year. - The SEP contribution for a self-employed person is based on net adjusted self-employment income, not gross profit. - SIMPLE-IRAs are for employers with 100 or fewer employees and allow for both employee and mandatory employer contributions. - The two employer funding options for a SIMPLE-IRA are a 3% match or a 2% nonelective contribution. - Withdrawals from a SIMPLE-IRA within the first two years of participation face a steep 25% penalty, not the usual 10%. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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