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SEP IRA
Recommended for Self-employed individuals, sole proprietors and other small business owners
- Use First Republic's Certificate of Deposit account or Savings accounts (Money Market Savings or Passbook Savings) to save for retirement and enjoy tax advantages
Key Benefits
- Tax deferred retirement savings and tax deductible contributions with a higher limit than individual traditional IRA contributions
- Client is earning money at competitive interest rates compounded daily
Things to Consider
- Minimum opening balance: $5,000
- Only employers can make SEP contributions, whether incorporated or unincorporated, nonprofit or tax exempt
- Individuals cannot make SEP contributions
- See Certificate of Deposit account or Savings accounts (Money Market Savings/Passbook Savings) for account specific information
Account disclosure (PDF)
