SEP IRA

Who should establish this type of account?

If you manage any kind of a company, you May be more interested In sharing an retirement account with your employees than establishing your own one which contribution rates would be not satisfactory enough for you and the people you manage. Maybe it is the SEP IRA that is a perfect solution for you?

There are a various types of IRA, one of them is a so called SEP IRA. It is directed mostly to self employed people, who want to stay independent. Also the small business owners can establish this type of retirement account. This account is fully tax deferred.

 It is the most suitable retirement account for business men who earn much money, because the contribution limits are very high. SEP IRA is mostly opened by the owners without asking the staff about opinion. Sometimes the account can concern the employees as well. But commonly, it is established without them.