If you set up a SEP plan, all eligible employees must be given the following information:

• a copy of Form 5305-SEP (assuming that you use 5305-SEP)
• a statement that IRAs other than the IRAs into which employer SEP contributions will be made may provide different rates of return and different terms concerning, among other things, transfers and withdrawals of funds from the IRAs
• a statement that, in addition to the information provided to an employee at the time the employee becomes eligible to participate, the SEP administrator must furnish each participant within 30 days of the effective date of any amendment to the SEP a copy of the amendment and a written explanation of its effects
• a statement that the administrator will give written notification to each participant of any employer contributions made under the SEP to that participant's IRA by the later of January 31 of the year following the year for which a contribution is made or 30 days after the contribution is made