SEP IRA

Retirement for self-employed business owners

Easy Set Up

Low cost and little maintenance to set up and maintain plans.

Tax Advantage

Contributions are tax deductible as a business expense.

Flexible

Adjustable contribution amounts support your cash flow needs.

ELIGIBILITY

Retirement plans for the self-employed

Simplified Employee Pension (SEP) IRAs are best for business owners with few or no employees.

  • Sole proprietor of a business
  • Business owner in a partnership
  • Individual earning self-employment income
  • Business with 10 employees or fewer
features

Retirement is within reach

Tax-deductible contributions

Employer makes tax-deductible contributions directly to employee’s traditional IRA (individual retirement account).

No participation required

Employees are not required to contribute.

Many options

A variety of investment options are available, including CDs, mutual funds, stocks, bonds, annuities, Exchange Traded Funds (ETFs) and managed asset accounts.

benefits

Make the most of your plan

Flexible

Save more when you make more with adjustable contributions.

Contribute more

Contribute significantly higher amounts, up to $57,000 more than a traditional IRA (see IRS Publication 3998 for the full set of requirements).

Easy to maintain

Save time and money with less paperwork and administration.

Not sure where to start? We'll help you find the path to a successful retirement today

My Business Insurance Center

Manage business insurance information from any device, from anywhere

Access and manage your latest insurance documents and policy information

Report claims online, including accident photos and documentation

My Business Insurance Center

Manage business insurance information from any device, from anywhere

My Business Insurance Center

Access and manage your latest insurance documents and policy information

My Business Insurance Center

Report claims online, including accident photos and documentation

Qualified Retirement Plan

Create a retirement package for your employees

A strong employee retirement plan can increase your bottom line.
Market Commentary

Make sense of the markets

We have our fingers on the pulse of the economic growth, investor sentiment and valuation trends.
Insights

Grow your business

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Account openings are subject to bank approval.

Your investments in securities, annuities and insurance are not insured by the FDIC or any other federal government agency and may lose value. They are not a deposit or other obligation of, or guaranteed by any bank or bank affiliate and are subject to investment risks, including possible loss of the principal amount invested. Past performance does not guarantee future results.

First Citizens Wealth Management is a registered trademark of First Citizens BancShares, Inc. First Citizens Wealth Management products and services are offered by First-Citizens Bank & Trust Company, Member FDIC; First Citizens Investor Services, Inc., Member FINRA and SIPC, an SEC-registered broker-dealer and investment advisor; and First Citizens Asset Management, Inc., an SEC-registered investment advisor.

Brokerage and investment advisory services are offered through First Citizens Investor Services, Inc., Member FINRA and SIPC. First Citizens Asset Management, Inc. provides investment advisory services.

Bank deposit products are offered by First Citizens Bank, Member FDIC.

This information is provided for educational purposes only and should not be relied on or interpreted as accounting, financial planning, investment, legal or tax advice. First Citizens Bank (or its affiliates) neither endorses nor guarantees this information, and encourages you to consult a professional for advice applicable to your specific situation.

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