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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.

Reasons to consider a Fidelity SEP IRA

  • Easy to set up and maintain
  • Flexible annual funding requirements
  • Wide range of investments
  • Contribute online, by phone, or by mail

Compare all small-business retirement plans

Get started

Or call 800-544-5373 and select option 3 to speak with a small-business retirement specialist.

Tax advantages

Tax-deferred growth potential

Tax-deductible contributions

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


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

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 169 reviewers.
Rated 3 out of 5 by smart choice The fidelity rep gave me an amazing presentation about where I should be investing for my age and retirement goals. June 8, 2015
Rated 3 out of 5 by Great product, but lazy Financial Advisors I opened this account when I decided to open my own consulting firm. Unfortunately, it has not turned out to be simple. The financial adviser has never called me to guide me about how to invest the money. I have to mail out a check every month which is not convenient. I don't think its the best product in terms of customer service and lack of advising. June 8, 2015
Rated 3 out of 5 by it's OK opening the account online was easy and convenient enough. Not being able to fund my account via online bank transfer not so convenient. Driving all the way to a Fidelity location or putting in mail is just an extra effort. -not sure if that's a fidelity thing or a gov't regulations thing. May 17, 2015
Rated 5 out of 5 by SEP IRA High quality service continues to be the hallmark of Fidelity Investments. I recommend that Fidelity add the ability to include a note associated with the contribution to indicate the year of the contribution. May 4, 2015
Rated 5 out of 5 by Secure Fidelity has provided an easy & very secure platform for my investments. they are also very responsive to any requests April 29, 2015
Rated 4 out of 5 by Lots of options and low fees Fidelity SEP-IRAs have access to Fidelity's wide range of low-fee mutual funds as well as low commission stock purchases. Convenient and has good customer service. Also provides access to useful on-line seminars. The only weakness is on-line security. While 2-factor authentication isn't necessary, I would prefer to have a challenge question as with some other investment accounts. April 13, 2015
Rated 5 out of 5 by Electronic fund transfer Being able to electronically transfer funds into my account is incredibly convenient. April 6, 2015
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 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
Rated 4 out of 5 by Good plan for small business The Fidelity SEP IRA is a good choice for my small business, as it gives me the necessary flexibility while still providing a good alternative to a 401K. The only downside that I currently see is that to transfer monies into the account, I need to send a check or call a representative to have the electronic transfer initiated from the Fidelity side. I'd prefer to be able to initiate the electronic transfer myself. May 14, 2014
Rated 1 out of 5 by Poor Online Service At Fidelity Fidelity offers systems that waste our time. It seems there should be more concern for easy-to-use forms, applications, instructions, etc. Finding a form on the website even takes time and hunting. Today we attempted to sign up for ETF service to send money electronically to Fidelity. Several hours later after downloading, printing, filling out, signing, scanning, creating PDFs, all at the proper size not to clog the Fidelity pipe and without much help from a chat agent or supervisor, we finally submitted our enrollment. At the end of the process we were confronted with a Notary Guarantee Certificate. Getting a driver's license is easier. 1 out of 10 for this. Today, when most consumers know that banks keep few of our interests close to their hearts, it's obvious they don't care how much time we waste dealing with them. Online support personal pleasant but clueless. Kudos, Fidelity. Make it harder for us. April 24, 2014
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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.