No. Contributions to a retirement plan can only be made from compensation, which, in the case of a selfemployed individual, is earned income. Please fill out the form below and we'll contact you.We look forward to speaking with you about how we can help meet your needs. Retirement plans for S Corp owners, like SEP IRAs and Solo 401(k)s, help maximize savings. Learn how self-employed professionals can plan ahead. File Necessary Forms: File IRS Form 5500 each year to report the plan's status and compliance. Employee Stock Ownership Plan (ESOPs). The plan administrator or employer (owner) must sign and date paper Form 5500-EZ for the 2023 filing. The Utah Retirement Systems (URS) 401(k) Plan is a qualified taxdeferred plan governed by. Section 401(k) of the Internal Revenue Code, and.