How to set up a SEP IRA?

You can setup SEP IRA account easily in four steps

1. Choose an IRA account provider.
2. Once you chose the account provider, use IRS Form 5305-SEP   to create an agreement with the chosen  account provider.
3. Share the copies of IRS Form 5305-SEP with employees 
4. Account provider must open SEP IRA account for each eligible employee .