- Self-Directed Accounts
- Investment Types
- Why Equity Trust
- Institutional Solutions
Designed for self-employed individuals and small business owners (typically with up to 25 employees), the SEP IRA enables individuals who are business owners to make contributions toward their own retirement without getting involved in a more complex plan.
The SEP allows an annual contribution of up to $66,000 in 2023. Contributions to a SEP are tax-deductible, and earnings within the account are tax-free until withdrawn.
An employer may contribute up to 25 percent of each employee’s annual compensation (the maximum considered compensation is $330,000 for 2023).
Any employer—whether a corporation, partnership, or self-employed individual—may establish the plan, even if there is only one employee.
Employees must meet ALL of the following requirements:
Spouses and children may also participate in the plan and open their own SEP IRAs—as long as they are employees of the company and meet the income requirements.
When a SEP IRA is referred to as a self-directed account, it simply means you can use the account invest in areas outside of the traditional stocks and bonds. That’s the primary difference between a self-directed and traditional retirement account — where you put those investment dollars.
With a self-directed IRA or 401(k), you can invest in a variety of areas, including:
Schedule a one-on-one session with an expert alternative investment counselor. We’re here to answer any questions, help guide you through the process, and provide more detailed information and education specific to your journey.
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