YEAR CONTRIBUTION CONTRIBUTION IF OVER THE AGE OF 50 DEADLINE TO OPEN IRA DEADLINE TO CONTRIBUTE TO IRA
2016 $53,000 N/A 4/15/2017 (plus extensions) 4/15/2017 (plus extensions)
2017 $54,000 N/A 4/15/2018 (plus extensions) 4/15/2018 (plus extensions)
  • Easy to set up and operate
  • Low administrative costs
  • Flexible annual contributions
  • Employer must contribute equally for all eligible employees
  • Contributions an employer can make to an employee’s SEP-IRA cannot exceed the lesser of:
    • – 25% of the employee’s compensation, or
    • – $53,000 for 2016 ($54,000 for 2017)