Opening SEP IRA for '06--Am I missing anything?

[Jeff W]

I want to open a SEP IRA and max out my contribution for 2006(Self Employed Pro Gambler). I am not going to have it funded before April 17. Are these the right steps?

1. File form 4868 - Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. Include 2006 tax payment to avoid interest payments(I've already completed my tax return). Under Table 1 of Pub. 560 it says the last date for contribution is "Due date of employer's return (including extensions.)"

2. Complete the 5305-SEP "Simplified Employee Pension--Individual Retirement Accounts Contribution Agreement"

3. Fill out E*Trade IRA Application and send it in with instructions to transfer $X to the IRA from my brokerage account.

4. Fund the IRA.

5. File my tax return.

Am I missing anything? I've read the forms and publications over and over and it seems to be that simple. I'll call IRS tomorrow but I don't know if I can hope to get through to a representative 1 day before taxes are due. Thanks.

I hate the US tax system...