Author Topic: Best SEP-IRA Provider?  (Read 1355 times)

kudy

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Best SEP-IRA Provider?
« on: September 30, 2015, 07:42:16 PM »
Does anyone know the best choice for SEP-IRA provider? I hope to put a few hundred dollars aside from freelance sole proprietor work this year, so it's important that if possible, the account has:

  • no annual or other recurring fees
  • decent fund choices that can be purchased without commissions

Any recommendations? Also, I am hoping to verify that my understanding of the limits is correct - I think I should be able to contribute $5500 to my traditional IRA, and additionally have the business contribute money on top of that to a SEP-IRA, am I understanding the rules correctly?

Thanks for any help anyone can provide!

DaveR

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Re: Best SEP-IRA Provider?
« Reply #1 on: October 01, 2015, 08:47:31 AM »
Both Vanguard and Fidelity offer small business SEP-IRAs, SIMPLE IRAs, and solo 401(k). Good fund choices and fee structures.
https://investor.vanguard.com/what-we-offer/small-business/overview?Link=facet
https://www.fidelity.com/retirement-ira/small-business/overview

Any contributions to these 'business' plans are independent of the $5500 'personal' IRA (traditional or Roth) contribution.

ShoulderThingThatGoesUp

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Re: Best SEP-IRA Provider?
« Reply #2 on: October 01, 2015, 09:10:01 AM »
Schwab also has zero minimum and zero fees, and no commissions on their ETFs which have low maintenance fees.

DaveR

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Re: Best SEP-IRA Provider?
« Reply #3 on: October 01, 2015, 09:42:42 AM »
Schwab also has zero minimum and zero fees, and no commissions on their ETFs which have low maintenance fees.

That's right. Schwab: http://www.schwab.com/public/schwab/investing/accounts_products/accounts/small_business_retirement

If the amount contributed is a few hundred as the OP stated, then Schwab might have the lowest total fees. It depends a little on the total account value and the frequency of contributions.

kudy

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Re: Best SEP-IRA Provider?
« Reply #4 on: October 01, 2015, 02:42:40 PM »
Awesome! Schwab looks like it might be the right fit.

With only ~$400 being contributed once per year, I really need to avoid all fees.

Any contributions to these 'business' plans are independent of the $5500 'personal' IRA (traditional or Roth) contribution.

Awesome, thanks for the confirmation! That's what I was thinking, but wanted to make sure I wasn't reading it wrong.