In Regards to Retirement Plans for Self-Employed Individuals,choose the False

In regards to retirement plans for self-employed individuals,choose the false statement.

A) To avoid penalties,taxpayers must make distributions from their Keogh or Simplified Employee Pension plan after they are 70 1/2 and not before they reach 59 1/2.
B) Self-employed individuals may only use Simplified Employee Pension plans as retirement plans.
C) For 2011,contribution to a Keogh plan is the lesser of 20 percent of the net earned income (before the Keogh deduction) or $49,000.
D) Contributions to a Simplified Employee Pension plan are made into a special SEP-IRA account