The following information is directly from and links to the IRS website
Contributions an employer can make to an employee’s SEP-IRA cannot exceed the lesser of:
- 25% of the employee’s compensation, or
- $55,000 for 2018 ($54,000 for 2017)
Note: Elective salary deferrals and catch-up contributions are not permitted in SEP plans.
If you’ve contributed more than the annual limits to an employee’s SEP-IRA, find out how to correct this mistake.