• Print
  • Default text size A
  • Larger text size A
  • Largest text size A

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.

Plan features

Tax advantages

Tax-deferred growth potential

Tax-deductible contributions


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 $52,000 for 2014 and $53,000 for 2015), 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

April 15 tax filing deadline for most self-employed individuals and small-business owners (including any extensions)


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


Each employee must open an individual SEP IRA account.


Minimum required distributions starting at age 70½

10% early withdrawal penalty if under age 59½, subject to certain exceptions

Investment options

A wide range of mutual funds, stocks, bonds, ETFs, and FDIC-insured CDs

Support and guidance

One-on-one guidance—in person, online, or over the phone

Research and tools to help you create a long-term plan and choose investments


Account fees

No annual fees, no establishment fees*

*There is no cost to open and no annual fee for Fidelity's Traditional, Roth, SEP, and Rollover IRAs. A $50 account close out fee may apply. Fund investments held in your account may be subject to management, low balance and short term trading fees, as described in the offering materials. For all securities, see the Fidelity commission schedule for trading commission and transaction fee details.

Trading fees

$7.95 for online U.S. equity trades

Next steps

Open a SEP IRA online or call 800-544-5373 and select option 3 to speak with a small-business retirement specialist.
Rated 4.3 out of 5 by 140 reviewers.
Rated 5 out of 5 by Satisfied I rate my SEP plan excellent in all categories, although customer service will always stand out as the very best. When I was trying to transfer money from another account, Fidelity was easy to work with and did all they could do to move the transaction along when I was getting delays in the process. October 2, 2014
Rated 5 out of 5 by Great investment opportunity for self employees with SEP IRA I'm a realtor and need to plan my retirement wisely. Because I'm self employed, I think SEP IRA is one of the best retirement options and Fidelity has low fees and the web site is easy to navigate for either checking the balance or trading stocks or bonds. October 1, 2014
Rated 5 out of 5 by Simple and Convenient After several years of self-employment, I decided that the regular IRA was not adequate for me. I researched the different types of retirement savings and decided at the last minute that I needed to use the SEP-IRA. It was very quick and simple to set up the account and transfer funds from my other Fidelity account. Then I allocated the funds at my convenience. October 1, 2014
Rated 5 out of 5 by Easy to Navigate I have moved two accounts into one Fidelity SEP-IRA. Great value and great information at my fingertips. Customer service is also terrific. July 29, 2014
Rated 5 out of 5 by Easy and Fun! Setting up my SEP-IRA was quick and easy. Everyone at Fidelity took great care of me! June 24, 2014
Rated 5 out of 5 by I love my SEP! I started my SEP IRA with Fidelity to maximize the ability to save money as a small business owner, and plan for a secure future. Accounts at Fidelity are easy to manage. One can be hands-on or hands-off. I am definitely a hands-on, active investor, and my SEP has provided a tax saving advantage for my small business that gives me the peace of mind to know I am building for my future by maximizing contributions towards my retirement. The availability of choices at Fidelity, from mutual and index funds, to ETFs, to individual stocks, make this SEP a clear winner over companies in which plan investments are limited. I recommend Fidelity every day to colleagues, friends, and family. February 23, 2013
Rated 5 out of 5 by SEP IRA Rev Amazing. One of the best things I could have done as a small business owner. I owned a small business for 18 years and the SEP IRA was such a benifit people know all the time. The SEP is a perk all small business owners should take advantage of. I used to love the day when,prior to tax time, I wrote my SEP contribution check I let people know all the time. February 20, 2013
Rated 5 out of 5 by Convenient, Low Cost, Effective The simplicity of working with the SEP IRA account is the first quality that comes to mind. Understandability and simplicity of the statements and full functionality via the web interface are excellent in all regards. As with all of my accounts with Fidelity, I am confident that they are secure. February 18, 2013
Rated 5 out of 5 by SEP IRA Great alternative to doing it with a broker if you prefer trading yourself. Also the Fidelity office is conveniently located just around the corner from my office. March 9, 2015
Rated 4 out of 5 by Good Experience I had a great meeting with the agent who set up my accounts, and customer service has been perfect ever since. The only issue I have is that I have to reset my password every time I come onto the site. The solution I was given by a customer service agent didn't work. If it's because I use a MAC instead of a PC, I wish that could be fixed. But that's a small inconvenience, and I'm very happy with Fidelity. February 23, 2015
Rated 5 out of 5 by Veteran Writing Services LLC As a new small business owner, Fidelity provided the exact information I needed to make a decision on the right plan for my situation. The agents were very knowledgeable and courteous and walked me through all options. This could not have been any easier. I look forward to doing business with my new partner. February 11, 2015
Rated 5 out of 5 by SEP/IRA, Reliable I am fairly self-sufficient and I find that this Fidelity program works well with what I use it for. I have this on my Fidelity App also and can easily review each day while not at the office. I have several Watch Lists, one is the SEP, one is the Joint and one is a looksee of various stocks and funds that I watch out for. So without logging in it is a great convenience for me. February 10, 2015
Rated 5 out of 5 by Great but one comment Love it, but one comment would like more options to toggle the view / default view on my 'positions' page. I want to see how its performed $/time ie change since purchase isn't very helpful when i've bought things at different times. Annualized return since purchase or something similar would be a more effective metric. Also a better easy view of overall performance (say in the last month or year) including sold assets. February 2, 2015
Rated 5 out of 5 by Better than other brokerage accounts As a recently retired financial adviser I have seen many brokerage accounts. The Fidelity account is much easier to use and is more feature rich. December 26, 2014
Rated 5 out of 5 by No Complaints. Great Value. I am totally satisfied with my Fidelity SEP IRA. Fidelity made it easy to transfer to Fidelity and were there to answer all questions and guide me as necessary. Good Job!! December 9, 2014
Rated 4 out of 5 by Almost Perfect Great option for retirement, easy to open, however you can not transfer money to this account online. You must call to add a new contribution each time. November 23, 2014
Rated 5 out of 5 by My money is safe here. Fidelity is such a pleasurable company to work with. They listen to what their clients want. Simply the best. Lee Cantor November 11, 2014
Rated 4 out of 5 by A place to put retirement money My SEP is like an unknown to me. I put money in and hope for the future. October 22, 2014
Rated 1 out of 5 by SEP-IRA The worst product on the market coupled with terrible customer service. No matter how many times I request the EFT option to transfer funds from my bank to my SEP-IRA, fidelity can't seem to make it happen. Basically, you're left with an account that you can't use unless you want to make a phone call every time you want to transfer funds. It really makes saving for retirement extremely inconvenient. October 14, 2014
Rated 4 out of 5 by Efficient Easy to quickly open and fund an account. Consistent communications regarding investment strategies. October 7, 2014
Rated 4 out of 5 by SEP-IRA The only slightly negative would be the lack of being able to electonically transfer funds into account. September 27, 2014
Rated 1 out of 5 by No Idea! I went to the Paramus, NJ branch to get this set up and have reached out a handful of times to figure out how to get it set up and can't get anyone to help. September 17, 2014
Rated 3 out of 5 by annoyed. it's annoying i can't have a monthly sweep from my bank account to Fidelity. i'm supposed to call in every month and you know i don't do it. September 16, 2014
Rated 5 out of 5 by very happy with SEP-IRA Fidelity staff was very helpful & knowledgeable. Was as easy as could be and investment options are virtually unlimited. Highly recommended. August 29, 2014
Rated 5 out of 5 by Fast and Easy The website is pretty easy to navigate and loaded with research. August 8, 2014
Rated 5 out of 5 by SEP IRA My experience with Fidelity has been good. The web site works quite well. July 29, 2014
Rated 3 out of 5 by Blah Have not heard back from my investment professional after several attempts. July 15, 2014
Rated 4 out of 5 by SEP IRA Review The convenience is that I have most of my retirement in Fidelity 401K so great that an SEP IRA was available as its my current employers retirement vehicle. I have not been active in managing this and am not sure if its invested properly - or even if I have options to do so. June 10, 2014
Rated 3 out of 5 by SEP IRA capability terrific; online reporting miserable I like everything about the functionality of the Fidelity SEP IRA. However, up-to-date information about current year withdrawals, deposits & ROTH conversions do not exist. The only way to get the information is thru the excruciating process of reviewing the detailed transaction history. May 30, 2014
Rated 5 out of 5 by Quick and Competent Very easy to open an IRA-SEP at Fidelity, and the prompts are easy to understand. May 21, 2014
  • 2015-03-27T09:45:54.394-05:00
  • bvseo_lps, prod_bvrr, vn_prr_5.6
  • cp-1, bvpage1
  • co-hasreviews, tv_140, tr_140
  • loc_en_US, sid_014, prod, sort_default
2 3 4 5 next>>

ETFs are subject to market fluctuation and the risks of their underlying investments. ETFs are subject to management fees and other expenses. Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their NAV, and are not individually redeemed from the fund.

† $7.95 commission applies to online U.S. equity trades in a Fidelity account with a minimum opening balance of $2,500 for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (of between $0.01 to $0.03 per $1000 of principal). Other conditions may apply. See Fidelity.com/commissions for 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 Customer Ratings and Reviews Terms of Use. 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.

Contribute to a SEP IRA

OnlineLog In Required

Contribute securely online using an electronic funds transfer (EFT).

By mail

Submit a check by mail using this Deposit Slip (PDF). Be sure to include your account number on the check.