Merrill A Bank of America Company Merrill A Bank of America Company Open an account Login Open Menu bar Find answers to common questions at MerrillSchedule an Open an accountwith Merrill Open an accountwith Merrill Contribute significantly more than you could with a traditional IRAFootnote1 Make flexible contributions that are generally tax deductible by the businessFootnote2 Take advantage of an easy-to-manage plan that requires less paperwork Options beyond State Mandated Programs to grow with your business Don't Miss Out: Up to $1000 credit per employee for eligible employer contributions and qualified plan start-up tax credits.Footnote2 Open an accountwith Merrill $0 setup fee (for accounts opened online) $0 annual administrative fees (for accounts opened online) $0 unlimited online stock and ETF trades Footnote*Other fees may apply If you open your plan online, there are no setup fees or annual administrative fees, plus you always get unlimited $0 online stock and ETF trades if you're investing with your Merrill Edge Self-Directed account. Compare the features of retirement accounts available at Merrill, find out which one works best for you, your business and any employees you may have. Try our Retirement Account selector tool With a SEP IRA, only business owners make contributions, both for themselves and for their employees. A SIMPLE IRA allows both the business owner and the employees to make contributions. Learn more about all small business solutions available at Merrill 1 Manage your own investments or have Merrill investment professionals manage your portfolio for you, with the option to work with an advisor. Compare your optionsat Merrill 2 It's easy to set up your account (any employees you have will set up their own accounts), and there are no program or administrative fees for accounts opened online. Open an accountwith Merrill 3 Quickly and easily fund accounts for you and your employees with Merrill E-Contribs for Small Business Retirement Accounts™, a free platform. Get more details about small business retirement plans available at Merrill and find the one that works best for your needs. SIMPLE IRAplans at MerrillSmall Business 401(k)plans at MerrillIndividual 401(k)plans at Merrill Interested in getting more details on self-employed retirement plans? Compare a SEP IRA to an Individual 401(k)at Merrill Open an accountwith Merrill If you have questions, contact a specialist at 855.667.9451 Expand all With a SEP IRA, your business and employees (including you) can benefit. Contributions you make to the individual accounts under your plan are generally tax deductible by your business.Footnote2 You also have the opportunity to contribute nearly 10 times more to a SEP IRA than a Traditional IRA.Footnote1 Employer contributions will vary based on your eligible compensation and contribution year. For specific details please refer to the SEP IRA fact sheet (PDF) for the most current limits. Contributions are made only by you as the employer. Yes. You can consolidate your retirement assets by rolling over accounts held in former employers 401(k), 403(b) and 457 plans into a Merrill SEP IRA. A Rollover IRA isn't right for everyone. Consider all of your choices and learn if a Rollover IRA may be right for you. For additional information, call 888.637.3343.Footnote† With a SEP IRA, your business and employees (including you) can benefit. Contributions you make to the individual accounts under your plan are generally tax deductible by your business.Footnote2 You also have the opportunity to contribute significantly more to a SEP IRA than a Traditional IRA.Footnote1 There are no setup or administrative fees for your business or your employees, if you have them. If the original contribution or earnings are withdrawn before reaching age 59½, there may be an additional 10% early withdrawal penalty.Footnote3 Contributions are 100% vested immediately. A full range of investment choices is available, including stocks, bonds, options, ETFs and well-known mutual funds. You may also consider a savings IRA from Bank of America, N.A. Learn more about investment choices Get help when you want it by meeting with a Financial Solutions Advisor in person or on the phone. Learn more about working with an advisor Interest, dividends, employer contributions and other investment earnings have the potential to grow tax deferred until they are withdrawn at retirement. You can establish a SEP IRA and make contributions by your business tax filing deadline, including extensions, to take advantage of the potential tax opportunities for the preceding calendar year. No. IRS reporting is not required. Footnote You have choices about what to do with your employer-sponsored retirement plan accounts. Depending on your financial circ*mstances, needs and goals, you may choose to roll over to an IRA or convert to a Roth IRA, roll over an employer-sponsored plan from your old job to your new employer, take a distribution, or leave the account where it is. Each choice may offer different investment options and services, fees and expenses, withdrawal options, required minimum distributions, tax treatment (particularly with reference to employer stock), and different types of protection from creditors and legal judgments. These are complex choices and should be considered with care. For more information visit our rollover page or call Merrill at 888.637.3343. Footnote Other fees may apply. Free and $0 means there is no commission charged for these trades. $0 option trades are subject to a $0.65 per-contract fee. Sales are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal. There are costs associated with owning ETFs. To learn more about Merrill pricing, visit our Pricing page. Footnote1 As the business owner, your contributions to your SEP IRA account and deductions for such contributions may vary based on your net earnings and self-employment tax deduction. Please consult your tax advisor. Footnote2 For more information, visit the IRS websitepopup. Footnote3 Withdrawals are subject to ordinary income tax. In addition, a 10% additional early withdrawal penalty may apply to withdrawals taken prior to age 59½. MAP6101853-02292024 Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets. Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions. This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Additional information is available in our Client Relationship Summary (PDF). Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser, Member Securities Investor Protection (SIPC) popup and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp"). Merrill Lynch Life Agency Inc. (MLLA) is a licensed insurance agency and wholly owned subsidiary of BofA Corp. Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. Investment products offered through MLPF&S and insurance and annuity products offered through MLLA: Privacy|Security|Glossary|Advertising practicespopupAdvertising Practicespopup © 2024 Bank of America Corporation. All rights reserved. 4326521
appointmentwith MerrillPrepare for retirement with a flexible, easy-to-manage plan
A Simplified Employee Pension Plan (SEP) IRA is a flexible retirement plan offering tax benefits to business owners and their employees as well as self-employed people.Footnotes1, 2
SEP IRA Features
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Frequently Asked Questions
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Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value Are Not Deposits Are Not Insured by Any Federal Government Agency Are Not a Condition to Any Banking Service or Activity
