Fidelity SEP ira

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dru808
Posts: 1662
Joined: Sat Oct 15, 2011 2:42 pm
Location: mid pac

Fidelity SEP ira

Post by dru808 »

Does anyone here have a SEP IRA at fidelity set up with automatic transfers and investment? I just set up a new SEP at fidelity and the only option for an external eft is “move money- just once”

Is there something I need to do or someone I need to contact to allow reoccurring transfers to this account?

I’m used to weekly investments in my m1 SEP and would be pretty peev’d if this is not an option with fidelity. I hadn’t even thought about this not being an option before opening the account.

Edit: I am talking about automatic investing into mutual funds. I know most brokerages will not auto invest into ETFs.
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kinless
Posts: 146
Joined: Sat May 15, 2010 11:54 pm
Location: Tustin, CA

Re: Fidelity SEP ira

Post by kinless »

Seeing the same thing. My Fidelity Brokerage, Roth IRA, and HSA all allow the choice between “Once” and “Monthly” while the SEP only shows “Once” and can’t be changed. I personally couldn’t use “Monthly” anyway since my annual side business income widely varies and can’t reliably predict the max contribution.

But you might be in luck. Fidelity’s SEP FAQ says “Sole proprietors can establish automatic contributions from a bank account by mailing a form.” Where that form is, I’m not sure so you’d have to contact Fidelity about it. You also have the option of monthly transfers from your Core cash account within the SEP, but of course that requires a one-time transfer from the bank in order to establish.
pizzy
Posts: 4339
Joined: Tue Jun 02, 2020 6:59 pm

Re: Fidelity SEP ira

Post by pizzy »

Here is the form to establish auto-investments to a SEP-IRA: https://www.fidelity.com/bin-public/060 ... tments.pdf
Vanguard/Fidelity | 76% US Stock | 16% Int'l Stock | 8% Cash
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