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.


Questions?

Compare Fidelity's small business plans


We offer retirement plans for businesses of every shape and size. Visit the following product pages for more information. If you have a separate retirement plan established and would like to invest the assets in a Fidelity brokerage account, you may be interested in an Investment-Only Retirement account.1


If you have an existing 401K plan for your employees under another provider, learn more about the support and value we can deliver with a Fidelity 401(k).


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
Small businesses with 5 to 100 employees who want to offer a 401(k) for the first time
Self-employed individuals or businesses with 100 or fewer employees

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

Access to assets3
Cannot take withdrawals from the plan until a "trigger" event occurs, such as turning age 59½3, disability, and/or plan termination
Withdraw at any time, but a 10% penalty may apply if you are under age 59½3
Cannot take withdrawals from the plan until a "triggering" event occurs, such as termination of employment4, turning age 59½, or active military duty
Withdraw at any time, but a 10% penalty may apply if you are under age 59½3; If the withdrawal is taken within first 2 years of participation in the plan, that penalty increases to 25%

Contribution features
Employers may contribute up to 25% of compensation, up to a maximum of $61,000 in 2022 and $66,000 in 20235

Employees may contribute up to $20,500 for 2022 ($27,000 if 50 or older) and $22,500 for 2023 ($30,000 if 50 or older)5

The total employer and employee contributions cannot exceed $61,000 in 2022 and $66,000 in 2023. ($67,500 for 2022 and $73,500 for 2023 if 50 or older and making the catch up contribution.)5
Easy to set up and maintain

Flexible annual funding requirements

The employer may contribute between 0% and 25% of compensation up to a maximum of $61,000 for 2022 and $66,000 in 2023. Each eligible employee must receive the same percentage
Safe Harbor employer matching contributions4

Employees may contribute up to $20,500 for 2022 ($27,000 if 50 or older) and $22,500 for 2023 ($30,000 if 50 or older).5

The total employer and employee contributions cannot exceed $61,000 in 2022 and $66,000 in 2023. ($67,500 for 2022 and $73,500 for 2023 if 50 or older and making the catch up contribution.)5
Salary deferral plan with less administration

Electronic funding with customized contribution allocation for each participant

Employer contributes either a matching or a non-elective contribution

Participants may contribute up to 100% of compensation with a maximum of $14,000 for 2022 ($17,000 if 50 or older) and $15,500 for 2023 ($19,000 if 50 or older)

Fees
No account fees and no minimum to open an account. $0 commission for online US stocks and ETFs6
No account fees and no minimum to open an account. $0 commission for online US stocks and ETFs6
Low-cost, fixed pricing structure. No additional management fees or, with limited exceptions, fund expenses

Eligibility for tax credits for offering a 401(k) for the first time.
No account fees and no minimum to open an account. $0 commission for online US stocks and ETFs6

Interested in a Fidelity HSA® for your small business? Learn more


Ready to get started?

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

For Self-Employed 401(k) and Investment-Only start the paperwork

For Fidelity Advantage 401(k) , get started online