Use the notification and guidance messages in your Forge Trust Customer Portal to make maintaining asset valuations and your Self-Directed IRA easier.

Reminder: Visit our Contact Us and Forms pages for our updated address and deposit instructions for Tri-Counties Bank. Notify any third parties who make payments to your IRA of these changes.

Don’t forget to submit your 2023 distribution request by Dec 10. This ensures we can process it by Dec 29. You can submit it online, by mail, or by fax. Thank you for choosing Forge Trust.

Don't miss the Dec 11th deadline for property taxes! Forge Trust needs your deposit to post by Dec 8th.  Please send a wire, cashier check, or money order to avoid posting delays.

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Use the notification and guidance messages in your Forge Trust Customer Portal to make maintaining asset valuations and your Self-Directed IRA easier.

Reminder: Visit our Contact Us and Forms pages for our updated address and deposit instructions for Tri-Counties Bank. Notify any third parties who make payments to your IRA of these changes.

Don’t forget to submit your 2023 distribution request by Dec 10. This ensures we can process it by Dec 29. You can submit it online, by mail, or by fax. Thank you for choosing Forge Trust.

Don't miss the Dec 11th deadline for property taxes! Forge Trust needs your deposit to post by Dec 8th.  Please send a wire, cashier check, or money order to avoid posting delays.

SEP IRA

A SEP IRA allows employers to set aside money in tax-advantaged retirement accounts for themselves and their employees. A business of any size, including self-employed individuals can establish a SEP.

Key Advantages:

Is this retirement account right for you?

Easy to set up and maintain - requires Form 5305-SEP to accompany account application

Flexible annual funding requirements

Allows for profit sharing for small companies to create large pre-tax deductions to the businesses’ income as well as the employer’s deductions

Often simpler to establish than a 401k plan or other such group plan for small businesses

Eligibility:

  • Available to self-employed individuals and small business owners including those with employees
  • Includes sole proprietors, partnerships, C corporations, S corporations

Funding the Account:

  • Employer contributions
  • Same limits on contributions made to employees’ SEP-IRAs also apply to contributions if you are self-employed with some exceptions

Withdrawals:

Withdrawals:

2022 & 2023 Contributions:

  • Up to 25% of compensation to a maximum of $61,000 for 2022 and $66,000 for 2023.

Administrative responsibilities:

  • Employer’s tax filings must include employee contributions
  • Annual employee notifications for employer’s contribution if made

Plan setup deadline:

  • Establish by employer’s tax filing deadline plus extensions, usually by April 15.

For more information visit IRS - Simplified Employee Pension Plan (SEP)

Key Advantages:

Easy to set up and maintain - requires Form 5305-SEP to accompany account application

Flexible annual funding requirements

Allows for profit sharing for small companies to create large pre-tax deductions to the businesses’ income as well as the employer’s deductions

Often simpler to establish than a 401k plan or other such group plan for small businesses

Is this retirement account right for you?

Eligibility:

  • Available to self-employed individuals and small business owners including those with employees
  • Includes sole proprietors, partnerships, C corporations, S corporations

Funding the Account:

  • Employer contributions
  • Same limits on contributions made to employees’ SEP-IRAs also apply to contributions if you are self-employed with some exceptions

Withdrawals:

Withdrawals:

2022 & 2023 Contributions:

  • Up to 25% of compensation to a maximum of $61,000 for 2022 and $66,000 for 2023.

Administrative responsibilities:

  • Employer’s tax filings must include employee contributions
  • Annual employee notifications for employer’s contribution if made

Plan setup deadline:

  • Establish by employer’s tax filing deadline plus extensions, usually by April 15.

For more information visit IRS - Simplified Employee Pension Plan (SEP)

IRS Contribution Limits

Each year the IRS reviews and sometimes adjusts how much you can contribute to retirement accounts. See how much you are allowed to contribute by account type.

Open a SEP IRA

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Important Notice:

We’re moving!

Starting December 12th, Forge Trust will have a new physical AND mailing address. Our new addresses can be found here and is on all our forms. Please use this information when mailing anything to Forge Trust to avoid delays. Mail sent to our previous addresses will temporarily be forwarded.

Forge Trust has new Banking Information that can be found on our Delivery Information Page. Please notify any 3rd party making payments to your IRA (i.e. Issuers, Borrowers, Renters, etc.) of these new deposit instructions.