(Simplified Employee Pension Plan)
Easy, inexpensive plan for self-employed individuals and small businesses
- Flexibility with employer contributions
- Employer contributions deductible as a business expense
- Offers a full range of investment choices
- Use the Small Business Selector to find a plan
up to 25% of compensation
or $53,000 in 2016 ($54,000 in 2017), whichever is less
Self-employed individuals without retirement plan coverage2
Features of a SEP IRA
Available for self-employed individuals and owners of small businesses. Employees must be age 21 or older, receive annual compensation of $600 or more, and have worked for the company for at least three of the past five years.
Setup and contribution deadline
Account must be established and funded by the employer's tax filing deadline (plus extensions)
Flexible employer contributions
Ability to change or skip contributions annually
Easy setup and administration
IRS Form 5500 filing not required
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A retirement plan similar to a 401(k)
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This full-featured plan lets small business employers make discretionary deductible contributions to their employees' retirement savings.
Investment-Only (Non-Custodial) Account
A retirement plan with flexible investment choices
If you have your own plan administrator, this account provides a trading platform to help invest funds and manage the program.