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I have a SEP IRA from when I was self-employed. I’m no longer self employed, and don’t anticipate ever contributing to this SEP ever again. Is there any reason, or is it even possible, to change this account type to be a “traditional” Ira?
No, you cannot change the account. You can do a TRANSFER into a traditional IRA or convert to a Roth IRA. Either action will be done to a new account.
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While of no benefit for the vast majority of people. A SEP IRA has unlimited federal bankruptcy protection. A traditional IRA is limited to $1,362,800, next adjusted 4/1/2022. So only if you have very large traditional + SEP IRA balances would this be a concern.
In addition to those identified by @RickBoglehead. It can also be rolled over to a SIMPLE IRA (>= 2 years after 1st contribution) and a pre-tax (401a 401k, 403b, and governmental 457b account)