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
Or call 800-544-5373 and select option 3 to speak with a small-business retirement specialist.
Tax-deferred growth potential
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
Must be made by the employer
Can vary each year between 0% and 25% of compensation ($53,000 for 2015 and 2016), 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).
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
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.
$7.95 for online U.S. equity trades†