SEP IRA
Retirement for the independently minded
Free If You're Eligible
No fees to set up or contribute, just meet the eligibility criteria.
Get Tax Breaks
Individual contributions are tax deductible as a business expense.
Save What You Can
Flexible, higher annual contribution limits compared to other IRAs.
Retirement plans for business owners
Simplified Employee Pension (SEP) IRAs are best for business owners with few or no employees.
SEP IRA Contributions
Employer contributions
As an employer, you must make your SEP IRA contributions by the business tax filing deadline each year.
Contributions can vary from year to year
Annual contributions can't exceed 25% of compensation, up to $66,000.
Equal contributions
When providing a match, you must contribute the same percentage to all eligible employees.
SEP IRA Withdrawals
Minimum required distribution
If you're over age 73, you're required to take a distribution.
Withdraw without penalty
If you're 59 1/2, all withdrawals are permitted penalty free but will be subject to income taxes.
Penalty for early disbursements
If you make any withdrawals before age 59 1/2, there's a 10% penalty fee in addition to income taxes.
