Save more with an
Individual 401(k) Retirement Plan

This 401(k) plan allows one-person business owners (and their working spouse) the opportunity to save even more for their retirement.
Call 1.800.638.3804 to get started.
Individual 401(k) Retirement Plan Individual 401(k) Retirement Plan
Eligibility: Self-employed individuals and their working spouse
Contribution
Guidelines:
100% of compensation* up to $17,500 and $23,000 if age 50 and older in tax year 2014.
For tax year 2015, up to $18,000 and $24,000 if age 50 and older.
Employer
Contributions:
Up to 25% of compensation** where salary deferral plus employer contributions may not exceed $52,000 for tax year 2014 and $57,500 if age 50 or older.
$53,000 for tax year 2015 and $59,000 if age 50 or older.
Employee Options: N/A—only contributions are allowed for business owner and working spouse
Fees: No annual fees or set-up costs1
401(k) Plan Set-up
Deadline:
December 31 (by the end of the initial plan year)
401(k) Plan
Reporting Requirements:
May require annual IRS Form 5500
Investment Options: Choose from over 90 no-load mutual funds
SIMPLE IRA Plan Benefits

Individual 401(k) Plan Benefits

Significant Tax Savings Potential
  • Contributions to an Individual 401(k) Plan can help reduce your taxable income while saving for retirement.
  • Choice of either pre-tax or after-tax (ROTH) salary deferral contributions Tax-Deferred Growth Potential and Generous Contribution Limits
  • Generous contributions limits allow you to maximize your retirement plan needs.
  • Age 50 or older and able to make "catch-up" contributions in addition to your salary deferral contributions.
Low Costs
  • No fees or 401(k) plan set-up costs when you subscribe to paperless delivery.1
  • We keep our mutual fund expenses low to help you save even more.
*The maximum deductible contribution for federal income tax purposes.

**Maximum amount of compensation that can be used in determining contribution is $260,000 for tax year 2014 and $265,000 for tax year 2015. This amount is increased periodically for inflation. Significant Tax Savings.

1An annual $20 account service fee is charged for each mutual fund account with a balance below $10,000. The $20 account service fee will be waived for the following circumstances: Subscribe to electronic delivery of statements and confirmations*; maintain an individual combined balance of $50,000 or more for all T. Rowe Price accounts (including mutual funds, Brokerage, Variable Annuity, and Small Business Retirement Plans); or qualify for T. Rowe Price Select Client Services based on higher asset levels of $100,000 or more. Participants can subscribe to paperless delivery via the T. Rowe Price website once their account is established.