Small-business retirement plans

When it's time to choose a retirement plan for your business, there are a lot of moving parts to consider. It may help to start with which plan works for the number of people you will cover, since that will help narrow down your options. From there, you can compare the rest of the details.


Small-business plans available at Fidelity

We offer plans for businesses of every shape and size—whether you are a sole proprietor, C corporation, S corporation, or partnership. There are no account fees or minimums to open an account,1 and you’ll have access to a wide range of investment options. If you have more than 20 employees and are interested in a 401(k) plan, please call us at 800-835-5095.

Plan coverage
Self-employed individual or business owner with no employees other than a spouse
Self-employed individual or small-business owner, primarily those with only a few employees2
Self-employed individuals or businesses with 100 or fewer employees
Self-employed individual or small-business owner, including those with or without employees

Who contributes
Funded by employee deferrals and employer contributions
Funded solely by employer contributions
Funded by employee deferrals and employer contributions
Varies by account3

Access to assets4
Cannot take withdrawals from the plan until a "trigger" event occurs, such as turning age 59½, disability, and/or plan termination
Withdraw at any time, but a 10% penalty may apply if you are under age 59½
Withdraw at any time, but a 10% penalty may apply if you are under age 59½; If the withdrawal is taken within first 2 years of participation in the plan, that penalty increases to 25%
Varies by account3

Contribution features
Employers may contribute up to 25% of compensation, up to a maximum of $58,000 in 2021

Total employer/employee contributions cannot exceed $58,000 in 2021
Easy to set up and maintain

Flexible annual funding requirements

Must be made by the employer

Can vary each year between 0% and 25% of compensation (maximum $57,000 for 2020 and $58,000 for 2021), and each eligible employee must receive the same percentage
Salary deferral plan with less administration

Electronic funding with customized contribution allocation for each participant

Funded by employer contributions and elective employee salary deferrals

Plan Sponsors: Mandatory 3% matching contribution or 2% non-elective contribution

Participants: Up to 100% of compensation, with a maximum of $13,500 for 2020 and 2021 ($16,500 if age 50 or older)
A full brokerage account for investing plan assets for a non-Fidelity prototype retirement plan. Fidelity does not provide a template retirement plan document. This account can only be used as an investment account for the plan. The plan cannot provide for employee directed investments.

Fidelity provides no plan documents, tax reporting, or administrative services

Ready to get started?

For a SEP IRA or a SIMPLE IRA, get started online

For all small-business plans, call us at 800-544-5373

For a 401(k), call our workplace team at 800-835-5095