Business Retirement Account

Attract and retain better employees with the help of retirement solutions from Blue Ridge Bank. We understand you want what's best for your employees and your business. Our SEP IRA offers both. Contributions are tax deductible and set up is easy — little to no government documents are necessary.

SEPs also offer flexible annual contributions, offering your business more elasticity from year to year. Speak with a helpful BRB professional about your options today.

Summary
  • Ideal for businesses of any size or self-employed individuals
  • Gain the respect of your employees
  • Help employees reach their retirement savings goals
  • Employee always has complete ownership of all SEP IRA money
  • Competitive interest on entire balance
  • Contributions are tax deductible; your business pays no taxes on earnings
  • Contributions made only by the employer
  • Only self-employed may make contributions on their own behalf
  • Little to no documents to file with government
  • Inexpensive to set up and operate
  • Flexible annual contributions – good plan if cash flow is unpredictable
  • Can contribute up to 25% of each participant's annual compensation (earned income)
  • Or, up to the maximum allowable limit for current plan year, whichever is less*
  • Must contribute equally for all employees
  • Employee must first establish a traditional IRA, in which the employer will deposit SEP contributions
  • $1 minimum deposit to open**

*Consult your tax advisor.

**Until such time as an employer starts making contributions.