Question 26 A major advantage of an SEP is that it can be established as late as the due date of the income tax return, including extensions. True False Question 27 1 p Qualified retirement plan trusts are tax-exempt entities; therefore, the earnings accruing from contributions from both employers and employees grow income tax deferred until distributed. True False Question 28 1 pts When employer securities are distributed from a qualified retirement plan, the appreciation above the cost basis, called net unrealized appreciation (NUA), is not subject to income tax upon distribution. True O False