SEP IRA at Fidelity
If you're looking for a tax-advantaged way to save for retirement, Fidelity's SEP IRA could be a good option for you.
Fidelity SEP IRA Overview
Fidelity's SEP IRA is meant for small-business owners and self-employed individuals. It is not a personal IRA like a Roth or Traditional IRA. Instead, it is a business IRA for sole proprietorships, partnerships, and other small businesses. One important point is that Fidelity generally positions this plan for very small businesses.
The SEP account is taxed like a Traditional IRA. That means contributions are made with pre-tax dollars and withdrawals are generally taxable. There is no SEP IRA in Roth form, which will be a drawback for some people. Loans are also not allowed from a SEP IRA.
Fidelity does permit its SEP IRA to be opened as a Fidelity Go account, which is the company's robo service. It is also possible to open a SEP IRA as a full-service investment-advisory account, which can provide a broad range of retirement services through a financial planner. And of course, a SEP IRA at Fidelity can be opened as a self-managed account.
Pricing Schedule for Fidelity's SEP IRA
A brokerage SEP IRA has no minimum deposit requirement, and there are no annual fees of any kind. Opening and closing a SEP account have no fees, and many trades will be commission-free, which makes this account a strong choice for very small businesses.
An investment-advisory SEP account will have an account minimum that depends on the package selected. It could be as low as $50k or as high as $350k. These accounts also have annual management fees that vary by the investment approach chosen. In many cases, the cost is under 1% per year.
Opening a SEP IRA at Fidelity
If you decide that a SEP IRA is the right fit for your small business, opening one at Fidelity is simple. The company has a strong website and a user-friendly mobile app, and both can be used to open the SEP account.
On the website, look for the link at the top to open a new account. Scroll down to the section on small businesses, and you'll find the link for the SEP application. On the mobile app, tap on the More icon at the bottom and select the link to open an account. On the next page, select the link to see all accounts (skipping the option for retirement savings, which is only for personal IRAs). Next, tap on the tile to plan for retirement. Now, you'll see the link for the SEP IRA.
If you prefer the more traditional method of filling out an application by hand, Fidelity has that option, too. You can download, print, complete, sign, and return the SEP IRA application if desired. It is not a fillable form, so it will take some effort.
It's important to note that under IRS rules, each eligible employee of the small business must receive a SEP IRA.
SEP IRA Contributions
Contributions to SEP IRAs are employer contributions. There are no employee contributions. Even so, the potential savings can be substantial. The maximum annual contribution amount per employee for a SEP IRA is currently $72,000 for 2026.
The employer can contribute up to 25% of each employee's salary to each employee's SEP IRA. Each employee must receive the same percentage.
Performing a SEP IRA Transfer or Rollover
Generally speaking, it is possible to transfer funds into or out of a SEP IRA. A rollover can also be made from or into a SEP account. Some account types, however, may not qualify for a SEP transfer or rollover. Keep in mind that transferring or rolling over assets could have tax consequences.
Potential Services and Investments in a Fidelity SEP IRA
SEP IRA clients at Fidelity can trade a wide range of securities. Advisory accounts have access to financial-planning services that cover many retirement topics, such as charitable giving and estate planning. Brokerage customers can also get some services over the phone at no cost (such as help with an online retirement-planning tool).
Schwab's SEP IRA as a Substitute
One drawback of Fidelity's SEP IRA used to be that it could not be opened as an automated account. That
issue is not a problem at Schwab, which allows its SEP IRA to be opened in robo mode. Brokerage and
full-service advisory programs are also available for SEP IRA customers.
Charles Schwab charges no special fees on its SEP IRA. Self-managed and robo IRAs have no annual fees. Full-service advisory accounts will have annual management fees. Trades on most products inside a SEP IRA of any type will often be commission-free.
Schwab's website has lots of resources for retirement savers. These materials include articles, videos, and IRA calculators.
Free Charles Schwab IRA
Visit Schwab Website
Updated on 3/27/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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