Keogh Plan

Act before April 15.



Schedule a meeting

Are you a self employed individual?

You may establish a Keogh Plan on or before the end of the tax year (December 31st).  Once established, contributions may be made until the tax return deadline for applicable tax year (i.e. April 15).

A Keogh Plan is a type of qualified retirement plan available for self-employed individuals, as well as for those who own unincorporated businesses, or who own more than 10% of a special partnership or a corporation of individuals.

Reasons to open a Keogh Plan?

  • The maximum annual deductible contribution is up to 25% of your net income after the contribution with a limit of $53,000 for the taxable year ending on December 31, 2016, whichever is less.1
  • Accumulated contributions and gains are tax deferred until retirement, which provide you with an important financial planning tool that could assist you in saving for your retirement

Who is eligible?

  • Self-employed individuals
  •  Individuals that own an unincorporated business
  •  Partners of special partnerships who own more than 10% of the partnership, or shareholders who own more than 10% of a corporation of individuals

Why Banco Popular?

  • The trust for the Keogh Plan has been qualified by the Puerto Rico Department of the Treasury.
  • Your plan will be administered by the best qualified team in the industry which includes: financial advisors and certified financial planners.
  • Banco Popular is the largest commercial bank in Puerto Rico with a fiduciary services division having more than 50 years of experience and currently managing over $17 billion in trust assets.
  • You can access your account online.

We can visit you at your office or home to help you establish your Keogh Plan. To schedule an appointment call us at 787-281-7272 or click here . Once your Keogh plan is established, you have until the tax return deadline for the following year (i.e. April 15) in order to make your plan contribution.

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