The SEP Snap-Pac contains the precise language of IRS Form 5305-SEP. To establish a SEP, the employer simply completes the easy-to-use form and gives a copy to every employee who is eligible to participate. Each SEP participant who does not already have a Traditional IRA also establishes a Traditional IRA using the Traditional IRA Snap-Pac or the Traditional IRA Agreement Booklet and Application to Participate. 3-Page, Snap-Apart, 2-Color, 8 1/2 x 11.