Bank Statement Converter for SEP IRA Contribution Documentation

A SEP IRA lets self-employed individuals contribute up to 25% of net self-employment income — potentially over $66,000 per year. But proving those contributions to the IRS, a financial advisor, or an accountant requires more than a brokerage statement. Your bank statement shows the actual transfer out of your business or personal account into the SEP IRA custodian.

Key Benefits

• Document each SEP IRA contribution with exact date and amount from your bank
• Cross-reference deposits from business account to brokerage to confirm transfer timing
• Prove contributions were made before the tax deadline (including extensions)
• Produce an Excel file your CPA can use to reconcile Form 5498 from your custodian
• Track annual contribution totals across multiple custodians if you have more than one SEP

How It Works

1. Step 1: Upload the PDF bank statement covering your contribution period
2. Step 2: The converter extracts all transactions including transfers and wire payments
3. Step 3: Download Excel and filter for your brokerage custodian's name to isolate SEP contributions
4. Step 4: Share with your CPA or attach to your IRS response if audited

Frequently Asked Questions

Why do I need a bank statement if I have a 5498 from my custodian?

The 5498 shows what the brokerage received. The bank statement shows what you sent and when. If there is any discrepancy — a late posting, a pending transfer — the bank statement is the definitive proof of when you initiated the contribution.

I contributed in April for the prior tax year. Which statement do I need?

You need the statement from the month the transfer was initiated — typically April of the current year for a prior-year SEP contribution. The converter captures the exact date, so the timing is unambiguous.

Convert a Statement Free