The Simplified Employee Pension plan, or SEP, IRA is an individual retirement plan that provides a simple method for employers and self-employed persons to make retirement contributions.   Plan documents for the SEP-IRA are much simpler than for a 401(k) retirement plan.

Disclaimer:  IB does not provide tax advice. These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any international, federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor. We recommend that you consult a qualified tax advisor or refer to the U.S. Internal Revenue Service.