As an employer or an employee, it’s easy to see the benefits of a SEP IRA account . For the employer, it’s a simple way to provide a retirement savings plan for yourself and your employees. As the employee, the larger SEP IRA contributions, as compared to a traditional IRA, help you to accumulate retirement savings at a quicker rate . But that doesn’t mean you will always want to keep your funds in the employer- selected SEP IRA. If you leave your career , you might want to do a SEP IRA rollover to a privately held IRA plan. You might get a wider range of investment opportunities with a self-directed traditional IRA. The transfer process is simple . To start the SEP IRA rollover, open a traditional IRA. If you have selected the self-directed option, you will need to choose a custodian company to hold the account. It’s an important decision, so choose a custodian who offers a variety of investment options you are comfortable with, and learn what charges will be for transactions, wire charges, and account maintenance.  Once the account has been opened , generate a rollover request. Your SEP IRA provider should furnish you with the necessary paperwork . You then designate the funds you intend to move, and instruct where they are going. The new custodian might also have forms that you need to fill out . The simplest transfer will be trustee-to-trustee, transferring the assets directly. If instead, you receive a check, you must deposit the money into the new account within 60 days of the date on the check . Failure to do this will reclassify the SEP IRA rollover as a distribution, and you will be subject to taxes and fines. Once the transfer is complete, you will still need to report it on your taxes. You will receive a Form 1099R from the SEP provider at the end of the year. Easy ! You’ve successfully completed the SEP IRA rollover.