Which of the following statements are accurate regarding establishing a SEP IRA? I. There are never any employee elective deferrals. II. When an owner contributes to their SEP IRA, it is treated as an employee contribution. III.A SEP can be adopted using Form 5305-SEP. IV. The major advantage of a SEP plan is its simplicity. a.I, II, III, and IV b.I and IV c.II, III, and IV d.III only