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Small Business Overview

SEP IRA: Simplified Employee Pension Plan

Simplified Employee Pension Plans (SEP IRAs) help self-employed individuals and small-business owners get access to a tax-deferred benefit when saving for retirement.

Open a SEP IRA

Questions?

Easy set up and maintainance
Open an account and contribute online, by phone, or by mail.

Tax advantages
Earnings grow tax deferred and contributions are tax-deductible.

Flexible annual contributions
Contribute from 0% to 25% of compensation.

Compare all small-business retirement plans

Plan features

Tax advantages	Tax-deferred growth potential Tax-deductible contributions
Investment options	Get access to a wide range of investment options, see them here.
Support and guidance	We offer one-on-one guidance—in person, online, or over the phone. Plus, our research and tools can help you choose investments and create a long-term plan.

Tax advantages

Tax-deferred growth potential

Tax-deductible contributions

Investment options

Get access to a wide range of investment options, see them here.

Support and guidance

We offer one-on-one guidance—in person, online, or over the phone. Plus, our research and tools can help you choose investments and create a long-term plan.

Account Details

Eligibility	Must be sole proprietor, a business owner, in a partnership, or earn self-employment income by providing a service
Contribution rules	Must be made by the employer Can vary each year between 0% and 25% of compensation (maximum $55,000 for 2018 and $56,000 for 2019), and each eligible employee must receive the same percentage Calculate how much you can contribute using our Self-Employed Contribution Calculator. You also can use our SEP IRA Contribution Worksheet (PDF).
Establishment deadline	SEP IRAs must be established and funded by your tax filing deadline plus applicable extensions. As an example, for a sole proprietor April 15 would be the deadline to establish and fund a SEP for the prior tax year. If an extension was filed a sole proprietor can establish and fund a SEP IRA by October 15.
Administrative responsibilities	Employee notification of employer's contribution Employers must fill out and retain Form 5305 SEP (PDF) in their records. No plan tax filings with IRS
Employee responsibilities	Each employee must open an individual SEP IRA account.
Withdrawals	10% early withdrawal penalty may apply for withdrawals taken prior to age 59½ if no exceptions apply. Penalty-free withdrawals for qualifying first-time home purchase and certain college expenses. Required minimum distributions starting at age 70½.

Fees

Account fees	There is no opening cost, closing cost or annual fee for Fidelity's Traditional, Roth, SEP, SIMPLE, and rollover IRAs.*
Trading fees	$4.95 per online U.S. equity trade will apply.^†

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Investing involves risk, including risk of loss.

†

$4.95 commission applies to online U.S. equity trades in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). Other conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Clearing & Custody Solutions^® are subject to different commission schedules.

There are no opening, closing or annual fees for Fidelity's Traditional, Roth, SEP, SIMPLE, and rollover IRAs. Fund investments held in your account may be subject to management and short-term trading fees, as described in the offering materials. For all securities, see the Fidelity commission schedule (PDF) for trading commission and transaction fee details.

The initial customer ratings and reviews for this product (those dated before 3/18/2013) were provided to Fidelity through an email solicitation for feedback on the product. All ratings and reviews are provided to Fidelity on a voluntarily basis and are screened in accordance with the guidelines set forth in our . For additional information on which ratings and reviews may be posted, please refer to our Customer Ratings and Review Terms of Use. Featured Reviews have been selected based on subjective criteria and reviewed by Fidelity Investments. The average rating is determined by calculating the mathematical average of all ratings that are approved for posting per the Customer Ratings and Reviews Terms of use and does not include any ratings that did not meet the guidelines and were therefore not posted. Ratings and reviews are added continuously to the website (after a delay for screening against guidelines) and average ratings are updated dynamically as reviews are added or removed.

The ratings and experience of customers may not be representative of the experiences of all customers or investors and is not indicative of future success. The accuracy of information included in the customer ratings and reviews cannot be guaranteed by Fidelity Investments. Customers who post ratings may be responsible for disclosing whether they have a financial interest or conflict in submitting a rating and review.

Please contact a Fidelity representative if you have additional questions or concerns about the ratings and reviews posted here.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917

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