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SEP IRA
Maximize retirement for you and your small business
- HOME
- BUSINESS AND AGRICULTURE
- BANK
- SAVINGS
- SEP IRA
Provide for the future with a SEP IRA.
Invest in your employees for the years ahead with tax-deductible contributions to a simplified employee pension (SEP) individual retirement account. SEP IRAs let you put away 10 times the traditional IRA limit (up to $66,000 in 2023), so they offer clear advantages, especially for anyone nearing retirement.
Note: Because they require small business owners to contribute an equal percentage of compensation across the board, SEP IRAs tend to work best for smaller companies or those with no employees at all.
- Competitive interest rates, no minimum deposit to open
- Easy to set up once employee establishes Traditional IRA
- Employer-only contributions allowed
- Contribution limits of the lesser of 25% of each participant’s annual compensation or current plan year limit*
- Tax-deferred contributions, distributions taxed as income
COMPETITIVE RATES & TAX BENEFITS
Contributions grow tax-deferred
EASY TO OPEN & MANAGE
Simple to fund once employee establishes Traditional IRA
HIGHER CONTRIBUTION LIMITS
Up to 25% of annual compensation or current plan year limit*
IDEAL SMALL BUSINESS IRA
Employer-only contributions with equal percentages for all employees
