SEP IRAs

Self-employed or running a small business? You can save more than most.

Self Employed Pension (SEP) IRAs are designed specifically to meet the retirement needs of self-employed individuals and small business owners. Unlike other retirement plans, they’re simple to set up and easy to administer. SEP IRAs allow you to make significantly larger contributions than Traditional or Roth IRAs, and contributions may be tax-deductible.

Why choose a SEP IRA?

  • Provides you with an opportunity for tax-deferred retirement growth
  • Allows for significantly higher contribution limits than Traditional and Roth IRAs
  • Doesn’t obligate you to contribute every year (so you don’t need to worry if cash flow varies greatly from year to year)
  • Lets you access a broad array of investment choices
  • Employer-only contributions
  • Offers tax-deductible contributions for the business*

Why open a SEP IRA with SunTrust?

  • A broad choice of investments including stocks, bonds, no-transaction-fee mutual funds and Exchange Traded Funds
  • Guidance from a knowledgeable; local SunTrust Investment Services advisor (STIS) on investment choices, contribution limits and distribution requirements
Did you know?

You have until your tax-filing deadline (including extensions) to open and contribute to a SEP IRA for the previous year.

Learn how our SunTrust SummitView goals-based planning approach can give you a clear view into all your stocks, bonds, retirement and savings accounts, allowing you and your advisor to better align your investments to your goals and objectives.

DISCLAIMERS

* Requires equal % contribution for all eligible employees

10% IRS early withdrawal penalty if withdrawn before age 59½ unless an exception applies. Required withdrawals must begin at age 70 ½.

 

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