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Open a SEP or SIMPLE IRA

Tax-Advantaged Accounts for Business Owners

A self-directed small business account at Equity Trust offers you the control and flexibility to choose both traditional and alternative investments.

SEP

Simplified Employee Pension (SEP), is designed for self-employed individuals or small businesses with less than 25 employees. The SEP allows for pre-tax contributions toward retirement without getting involved in a more complex qualified plan such as a 401(k).  Contributions to a SEP are tax deductible and compound tax-deferred until withdrawn, pending that the distribution is taken after the account holder reaches 59 ½ years of age. Additional information related to SEP accounts can be found here.

Advantages:

  • Less complex and costly than a 401(k)
  • Allows individuals to contribute larger amounts
  • May qualify for larger tax deductions
Learn More

SIMPLE

Savings Incentive Match Plan for Employees (SIMPLE) is a plan for small businesses, typically with 100 or fewer employees, that have no other retirement plans.  With a SIMPLE plan, contributions are tax deductible and compound tax-deferred until withdrawn, pending that the distribution is taken after the account holder reaches 59 ½ years of age. Additional information related to SIMPLE accounts can be found here.

Advantages:

  • Less complex and costly than a 401(k)
  • Contribution limits are higher than individual retirement accounts and grow tax-deferred, without being subject to capital gains or income tax
  • Employees are always 100% vested in (or, has ownership of) all SIMPLE IRA money
Learn More

Considering a Solo 401(k)?

The Solo 401(k) is often the most attractive plan to investors, if they qualify, because it combines elements of the SEP and SIMPLE.

The Solo 401(k) is designed for owner-only businesses and spouses.  If you qualify, the Solo 401(k) plan offers higher contribution amounts and possible tax deductions. To see if you qualify, please contact a Senior Account Executive at 855.673.4721.

CHECK ELIGIBILITY REQUIREMENTS
Details about the Solo 401(k), SEP and SIMPLE IRA plans, contribution and potential deduction amounts, eligibility, and income requirements

Get Started with a SEP or SIMPLE Plan in 3 Easy Steps

Step 1. Open Your Account

Open your account using the myEQUITY Online Application Wizard.

Open your account online in less than 10 minutes. You will be guided through the steps to provide your personal information and method of funding for your account. Then after completing a final review your application will be submitted.

What’s next?

Your account will typically be opened within 3 business days. Delays may occur if there are any corrections needed from you in order to complete the account setup process.

Step 2. Fund Your Account

Fund your new account with a contribution, transfer an existing account, rollover, or use a combination of all three methods.

We can help facilitate the transfer or rollover to fund your account so that you can start investing.

Step 3. Start Investing

Once your account is open and funded, you are ready to invest.

You direct all investments for your account with the freedom and flexibility to diversify your portfolio with both alternative and traditional assets.

Equity Trust will process the investment, per your direction, on behalf of your account.

You can process your investment direction online using the intuitive wizards or Transaction Launcher feature on myEQUITY to submit your request. The Transaction Tracker and dashboard provides access to monitor transactions, around-the-clock and from any device.

Open Your Online Account

Need Help Opening Your Account?

Call 855-673-4721 or schedule a consultation and a Senior Account Executive will answer your questions and walk you through the process.

Schedule a Consultation