YEAR CONTRIBUTION CONTRIBUTION IF OVER THE AGE OF 50 DEADLINE TO OPEN IRA DEADLINE TO CONTRIBUTE TO IRA
2018 $55,000 Employer’s Tax Filing Deadline  (plus extensions) Employer’s Tax Filing Deadline (plus extensions)
2019 $56,000 Employer’s Tax Filing Deadline (plus extensions) Employer’s Tax Filing Deadline (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
    • – $56,000 for 2019 ($55,000 for 2018)