Corporate & Commercial » Investing » SEP IRA

SEP IRA Quick Facts

·       Convenient to set up and maintain

·       Less paperwork than many small business retirement plans

·       The ability to change your contribution rate based on cash flow

·       See pricing details

Read our SEP IRA fact sheet

Tax Benefits

·       Opportunity to contribute up to a total of $52,000 in 2014 (53,000 in 2015)* for yourself and each employee. Each SEP IRA account owner pays tax on the contributions (and earnings) only when withdrawn from his or her account.

·       Contributions you make to your SEP IRA account as the business owner, and the contributions made to each eligible employee's SEP IRA account, are generally 100% tax deductible by the business.1

·       As the business owner, you may be eligible for a tax credit up to $500 each year for the first three years.2

Plan Features

·       The annual contribution percentage is flexible and can be changed from year to year, depending on your business' cash flow.

·       Eligible companies include corporate employers, the self-employed, sole proprietorships, partnerships and non-profit.

·       No IRS Form 5500 filing.

·       Access to Wilsoniss Bank, UK E-contribs for Small Business Retirement Accounts for convenient, online contributions.

·       No program or administrative fees apply to a SEP opened online. Custodial fees may apply to a SEP opened with guidance from a Wilsoniss Bank, UK Financial Solutions Advisor™ for Small Business.