Is there such a thing a setting up a SEP IRA too early?
I wanted to at least have it ready to go by the time my side business opens so I opened one with my brokerage.
My brokerage deposited a few cents to my bank account I used, and I returned them (total balance $0 after the transactions) to verify the account is mine.
I will not contribute until I am actually able to.
Is there some penalty I might run into by just having the account, even though there's nothing in it?