SEP IRA
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Open
Set up a SEP IRA plan
Employer forms
Use these forms to set up a SEP IRA plan.
Complete the forms in the SEP IRA Plan Sponsor Guide.
Employee form
Use this form to enroll eligible employees into the plan.
Complete the form in the SEP IRA Employee Guide.
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For answers to common questions, visit Opening SEP IRAs.
Brochures and enrollment meeting materials
SEP IRA program highlights
This single sheet covers the program highlights for SEP IRAs. It can be shared with clients who are considering opening a SEP plan.
Go to the SEP IRA program highlights single sheet.
Comparison brochure
Compare retirement plan contribution limits and key features to determine which option is best for your client.
Go to the Choose a plan that meets the needs of your employees and your organization brochure.
Enrollment meeting
Follow these steps:
- Schedule the meeting, then allow a 60-day enrollment period
- Provide employees with applications and prospectuses
- Return the completed applications
Go to the SEP IRA Employee Guide.
- Schedule the meeting, then allow a 60-day enrollment period
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Update
Update participant’s personal information
Update participant’s name
Use this form and submit it with supporting documentation. Refer to the form for requirements.
Complete the Name Change Request.
Update participant’s address
Update the address via the participant’s online account. Use the options on the right side of the page.
Note: There is a 10-calendar-day wait to process a distribution to the new address unless the distribution request is submitted in writing with a signature guarantee.
Log in to Client Accounts.
Update participant’s contact information
A participant’s email address and/or phone number can be updated on DST Vision® or by contacting us.
Log in to DST Vision.
Update participant’s bank account for distributions
Use this form.
Note: Unless the form is signature guaranteed, there is a 10-calendar-day wait to process a distribution to the new bank account.
Complete the Add/Update Bank Information form.
If your client has experienced a major life event, visit Life events for checklists to assist with account updates they may need to consider.
Update plan information
Update plan contact and address
Use this form to update plan-level information.
Complete the Online Group Investments (OGI) Submitting Contributions form.
Change employer bank information
The plan contact can update the bank information on the OGI website.
Alternatively, you can use this form to change the bank account on file.
Complete the Online Group Investments (OGI) Submitting Contributions form.
For answers to common questions, visit Managing SEP IRAs.
Update participant’s beneficiaries
Designate or update IRA beneficiaries
Use this form.
Alternatively, your client may be able to make the change by logging in to their account on the investor website.
Complete the IRA Beneficiary Change form.
Order the IRA Beneficiary Designation Report
This report lists clients who have either not made a beneficiary designation or not updated their beneficiary designation in the past 5 years.
Order the IRA report.
To learn about the different types of beneficiaries, visit IRA beneficiary designations.
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Transact
Contributions
Employer contributions
Contributions must be submitted though the Online Group Investments (OGI) website. Once a new plan is established, the plan contact is provided with their user ID and instructions for submitting contributions. For additional assistance using the OGI website, contact us at (800) 421-4225, ext. 39.
Visit the OGI website.
Traditional IRA contributions
Contributions must be made by sending a check payable to Capital Bank and Trust Company (CB&T). Include:
- Account number
- Investment instructions
- Contribution year (indicate current year or prior year from January 1 until the tax-filing deadline)
- Contribution type
Mail the check to the service center near you.
For answers to common questions, visit SEP IRA contributions.
Distributions
Take a one-time distribution
Funds can be sent via check or by Automated Clearing House if the client’s bank account is already linked. Access the client’s account online and select Sell.
Log in to Client Accounts.
Set up automatic distributions
Funds can be sent automatically by setting up an automatic plan.
Complete the IRA Automatic Distribution Request.
Take a one-time required minimum distribution (RMD)
If you already know the RMD amount, you can complete a one-time distribution online. Access the client’s account online and select Sell. Visit the Required Minimum Distribution (RMD) Guide for more information.
Log in to Client Accounts.
Set up automatic RMDs
Use this form to set up automatic RMDs. Capital Group will calculate the RMD amount each year and distribute the funds based on the selected schedule and delivery method.
Complete the Required Minimum Distribution (RMD) Request.
For answers to common questions, visit SEP IRA distributions.
Exchanges and rebalances
Complete a one-time exchange or rebalance
A one-time exchange or rebalance can be processed by accessing the client’s account online and selecting the appropriate option: Exchange or Rebalance.
Log in to Client Accounts.
Set up an automatic exchange or rebalance plan
Automatic exchange and rebalance plans can be set up online. Access the client’s account online and select Automatic Transactions.
Log in to Client Accounts.
For answers to common questions, visit SEP IRA exchanges and rebalances.
Transfers and rollovers
Move an external IRA to a SEP IRA at Capital Group
Use this form to request a transfer or direct rollover from an external IRA or qualified plan to a CB&T SEP IRA.
Complete the Request for Transfer of Assets or Direct Rollover.
Move from a Capital Group SEP IRA to another IRA
Use this form to request a rollover or transfer from an existing CB&T SEP IRA to another financial institution or to another CB&T IRA.
Complete the IRA Rollover/Transfer Request.
For additional details about transferring and rolling funds into and out of Capital Group, refer to the IRA incoming transfer and rollover guide or the IRA outgoing transfer and rollover guide.
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Contact us
Have questions or need additional support?
Contact us 8:00 a.m. to 7:00 p.m. ET, Monday through Friday.
For financial professionals only. Not for use with the public.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Use of this website is intended for U.S. residents only.
The guidelines and procedures provided in the Account Resource Center may not apply to networked accounts or accounts not directly held by American Funds. The guidelines and procedures provided also apply only to those retirement accounts or Coverdell ESAs invested in American Funds with Capital Bank and Trust Company (CB&T) as custodian. The guidelines and procedures provided in the Account Resource Center do not apply to plans held in our retirement plan solutions — PlanPremier, PlanPremier-TPA or RecordkeeperDirect. Information on the Account Resource Center may change periodically, and previously printed information may not be current. Please refer to capitalgroup.com for the most current information available.
Financial professionals should always contact their back office to determine if there are any restrictions on the use of American Funds products, tools, services, websites and literature.