Account Types
Get started by finding the account type that's right for you.
Accounts for Individuals
Traditional IRA
$395 per year + $50 establishment fee
Funds contributed to your account are not taxed until withdrawn.
Roth IRA
$395 per year + $50 establishment fee
Funds are taxed before they’re contributed to your account and are not taxed upon withdrawal.
Inherited IRA
$395 per year + $50 establishment fee
Established once a beneficiary inherits a Traditional or Roth plan after the death of the original owner.
Accounts for Businesses
SEP IRA
$445 per year + $150 establishment fee
A Simplified Employee Pension (SEP) plan allows employers to contribute to Traditional IRAs set up for employees.
Any size business can adopt a SEP plan.
SIMPLE IRA
$445 per year + $150 establishment fee
A Savings Incentive Match Plan for Employees (SIMPLE) plan allows both employees and employers to contribute to SIMPLE IRAs set up for employees.
Businesses must have no more than 100 employees.
Individual 401(k)
$495 per year + $150 establishment fee
Also called a Solo(k), this is a 401(k) for self-employed persons or for employers whose only employee is their spouse.
These plans have the same rules and requirements as other 401(k) plans.
Easily compare features across the different account types with our Plan Comparison Chart.
Additional resources:
The IRS’s Cost of Living Adjustments (COLA) outline the limits on the dollar amount of contributions to retirement plans and IRAs.
Our annual tax calendar marks the important dates and deadlines for each account type.
