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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 161 reviewers.
Rated 3 out of 5 by No ad hoc EFT It would be very convenient if there was a process to electronically make deposits without agreeing to a set schedule. As a self employed person, it is critical to have the flexibility to manage my income as needed. It would be much easier for me to not have to call in each time I want to make a contribution. February 25, 2013
Rated 5 out of 5 by outstanding Answers to questions and concerns are prompt polite and informed. Recent reviews have rated Fidelity as a great value to clients. I concur keep it up buttercup! February 24, 2013
Rated 5 out of 5 by it works for me! I have had my SEP account for many years and have found the Fidelity account to be safe, secure and convenient. February 24, 2013
Rated 5 out of 5 by Works for me SEP/IRA has been part of my retirement planning since 1981. Fidelity has always been a part of this plan. There have been many changes in the account interactions, i.e. purchasing equities, monitoring positions and communicating with Fidelity. Most changes have been very positive and progressive; and a few have been frustrating. Once I master a system, I prefer to stay with it and not learn a new, total remake. Instead a tweak here and there would suit me just fine. Also, one on one communication with a Fidelity Rep is less than ideal -log-in protocol and wait time has been an issue on occassion. If I was to do it all over, I would again select Fidelity for my SEP trustee. February 23, 2013
Rated 5 out of 5 by easy to use My primary platform is ATP which presents me with all data I need to make investment decisions. February 23, 2013
Rated 5 out of 5 by Retirement Fund It allowed me to set aside retirement money past the normal IRA deadline. Very simple and straight forward. Thank You. February 23, 2013
Rated 5 out of 5 by great features i give the fidelity site 5 stars , ease of use, detailed information on all my holdings. the availabity of charts and accessesing history in the selected stocks i am researching is a big plus in assiting with my investment decisions. February 23, 2013
Rated 3 out of 5 by Secure and User Friendly I prefer to do all my financial transactions online. I find the Fidelity website to be user friendly. A problem with the Fidelity SEP-IRA website is that I cannot designate the contribution year. As you know, people have until 15 April to contribute to the previous year. February 23, 2013
Rated 5 out of 5 by Professional and customer friendly I have been dealing with Fidelity for over 20 years now. I have never had an unpleasant phone encounter with a rep. They have always "come through", no matter how much time it took, or who they had to consult with, to get the job done. As far as the research goes, its great, and the online interface is very easy to use. There have never been any errors made regarding any of my transactions, or paperwork. While Fidelity is always "there" for you, they are never intrusive or trying to "sell" me something. I have no complaints! February 23, 2013
Rated 5 out of 5 by Easy to set up and maintain The Fidelity SEP IRA was easy to open. Once we got the accounts for our two person firm started, the entire realm of Fidelity's investment choices became available. We can change allocations easily through the web site. February 23, 2013
Rated 4 out of 5 by sepp ira it gave excellent research too and good information about my account February 22, 2013
Rated 3 out of 5 by Room for improvement I like the new format showing instantly the positions, profit and loss, etc. Now add a "comment field" where I can make notes to myself ie., "sell at $35". Your "alert" functions could be more user friendly. Finally, have a "watch list" that can be incorporated into the home page. February 22, 2013
Rated 5 out of 5 by Saving for the Future Very pleased with the account and its ease of use. February 22, 2013
Rated 4 out of 5 by Why not EFT contributions? Why can't I make contributions electronically for the SEP? IT seems for every other type of transaction I can fund electronically. February 22, 2013
Rated 5 out of 5 by Does almost everything I want... But not quite! I'm wondering if there would be anyway to allow an employee to borrow against his/her account? Other than that, your SEP IRA seems to provide just about everything which I would like in an IRA. February 22, 2013
Rated 3 out of 5 by long wait times I sometimes call and need to wait five to 10 minutes to talk to someone. Also some things I thought could be done through the computer I need to talk to someone. I dont know why February 22, 2013
Rated 5 out of 5 by Review All is excellent. I would like, however, under the "Performance," a running total of the amount of dividends intramonth. February 22, 2013
Rated 4 out of 5 by Has more good points than bad When Fidelity is good it is very good and when it is bad it is awful. February 22, 2013
Rated 5 out of 5 by Simple, Accurate, Quick Very easy to use. I check my accounts and/or make transfers twice a day, morning and evening. February 22, 2013
Rated 5 out of 5 by SEP Fan The SEP IRA is a great way to distribute funds at the end of the year, in a tax deferred account. Fidelity makes managing the account, as well as submitting contributions easy, couldn't be happier. February 22, 2013
Rated 4 out of 5 by My retirement dashboard I love the unlimited investment options, the speed of transactions, and my ability to be in full control of my investments. Also, when I need advice or help, both my local rep as well as the corporate level are there to assist. February 22, 2013
Rated 4 out of 5 by Convenient service with a lot options I have used Fidelity SEP-IRA for over 10 years. I found it to be very a convenient service with a lot investment options to choose. The fact that one can buy individual stock or ETF is a big plus compared to their retirement account that I have. February 21, 2013
Rated 4 out of 5 by Contribution Process As an employer, each year I need to make two deposits each to two separate SEP-IRA accounts. The first account is my personal account and requires speaking with an agent who then transfers me to a retirement specialist. At that point several questions must be answered followed by a delay while several screens are manually filled before the transaction can be confirmed. For the contributions to my employee's account the retirement specialist requires the employee to come to the phone to authorize the employer contribution which is required by the SEP rules. I recommend that SEP-IRA contributions follow the same process utilized for IRA or Roth IRA contributions. Since a SEP-IRA is technically a non-qualified plan, in my opinion, the process is unduly cumbersome each year. If this is not feasible then a simplified process not requiring agent interaction should be considered. February 21, 2013
Rated 5 out of 5 by Thanks Fidelity We are retired and required to make withdrawals and appreciate the ease of withdrawal and the follow up print of the information. February 21, 2013
Rated 4 out of 5 by SEPIRA Good program for small employers. I recommend Fidelity to small employers for ease of administration. February 20, 2013
Rated 4 out of 5 by Fidelity SEP IRA fits the bill After retiring I got a job at a consulting company that required a Fidelity SEP IRA. Having other Fidelity accounts I was comfortable with this. Excellent investment options, minimal transaction fees, excellent research tools and easy to navigate website. Perfect for the DIY type. My only recommendation is to have your own independent financial advisor since Fidelity is not strong in this area. Not a complaint since Fidelity doesn't advertise this as its strength but excels elsewhere to fit my needs. February 20, 2013
Rated 5 out of 5 by User friendly I like working with Fidelity because online access is secure, reliable and user friendly. The site is easy to navigate, offering valuable information on investing and portfolio snapshots in great detail. February 20, 2013
Rated 4 out of 5 by Works fine User interface and ease of use has improved over the years. February 20, 2013
Rated 2 out of 5 by trading tools only hi-trade qualifying tools available. Should have trading tools like pro-trade station available to investors like me who trade less ofte; operhaps simpler versions, but tools nonetheless. February 20, 2013
Rated 4 out of 5 by satisfied I chose Fidelity for my SEP because of the many highly - rated funds to choose from. Since I opened the account they have added many more offerings. Fees could be lower, but are reasonable February 20, 2013
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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.