SEP IRA
SEP IRAs are for self-employed individuals or small business owners.
A versatile retirement account with several unique features.
Why a SEP IRA?
Contributions, which are tax-deductible, go into a traditional IRA held in the employee’s name. SEP’s also may have higher contribution limits than other IRA types.
Key Details
- A retirement plan designed for self-employed persons, partnerships, sole proprietors, independent contractors and owner-employees of an unincorporated trade or business; however, it may be set up by any type of business
- Easy method for a small employer to establish a retirement plan for employees without the complex administration and expense found in managing qualified retirement plans
Disclosure Contact your tax or legal advisor to answer specific questions about eligibility, distributions, penalties and how they may apply to your individual situation.
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