SEP IRA - Plan Advisors
Should you start a SEP IRA?
Business owners can make tax-deductible contributions into a SEP IRA.
The SEP IRA is easy to set up and has far less administrative tasks than a 401(k) or 403(b). Also, there is no Form 5500 filing requirement with the SEP IRA.
If you have W-2 employees, you are required to make contributions for them as well. For example, if the employer contributes 10% of their earnings into a SEP IRA as an employer contribution, the employer must contribute 10% of the salary to the SEP IRA for each W-2 employee.
The employer has the flexibility to change the company contributions on a yearly basis.
