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ACCOUNT TYPE

SEP IRA

A SEP IRA is intended for self-employed individuals with few or no other employees. These account holders enjoy significantly higher contribution limits to account for the higher earning potential of a small business owner.

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AT-A-GLANCE

What should you know about a Self-Directed SEP IRA?

Tax Benefits

Other Benefits

DISTRIBUTION RULES

What should you know about SEP IRA distributions?

Minimum Distribution Facts

Early Distribution Facts

BELOW AGE 59½ AGE 59½ - 72 AGE 72 OR OLDER
You may distribute cash or assets from your Traditional IRA at any time, though a 10% early distribution penalty will apply. This penalty will be assessed on top of any applicable taxes. Upon reaching age 59½, you will no longer have to worry about the 10% early distribution penalty. Withdrawals will be taxed as regular income and need only occur at your election. You must begin taking required minimum distributions (RMDs) every year. RMDs are calculated in accordance with your age and your account value.
BELOW AGE 59½
You may distribute cash or assets from your Traditional IRA at any time, though a 10% early distribution penalty will apply. This penalty will be assessed on top of any applicable taxes.
AGE 59½ - 72
Upon reaching age 59½, you will no longer have to worry about the 10% early distribution penalty. Withdrawals will be taxed as regular income and need only occur at your election.
AGE 72 OR OLDER
You must begin taking required minimum distributions (RMDs) every year. RMDs are calculated in accordance with your age and your account value.

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GETTING STARTED

How do you fund your SEP IRA account?

Contributions

SEP IRA holders can contribute the lesser of 25% of compensation or $57,000 in 2020 and the lesser of 25% of compensation or $58,000 in 2021.

Transfers

The following account types can be transferred to or from a SEP IRA: SEP IRA, Traditional IRA, SIMPLE IRA (if the SIMPLE has been open at least two years)

Rollovers

The following account types can be rolled to or from a SEP IRA: 401(k), 403(b), 457(b), Thrift Savings Plan

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OTHER INVESTMENTS

ROI is everywhere if you know where to look.

No financial advisor knows you better than yourself. With a Self-Directed IRA you have the freedom to invest your tax-advantaged retirement funds in the assets you’re most passionate about. From real estate to startups to small businesses to more “out there” opportunities, if you can find it, we will help you fund it.

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EDUCATION CENTER

Want to learn more about SEP IRA accounts?

Essential Viewing

Play Video
All About SEP IRAs

Self-Directed IRA Guide

Investor's Guide
To Self-Directed IRAs