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Southern Heritage Bank is a division of FIRST CITIZENS NATIONAL BANK

Simplified Employee Pension (SEP) 


Flexible, low-cost retirement plan for employees and owners of small businesses.      

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A Simplified Employee Pension (SEP) gives business owners a simplified way to contribute to their employee’s retirement plans, as well as their own. Contributions are made to a traditional IRA that is set up for each individual.
  • Less expensive to install and administer than a profit sharing plan
  • Tax-deferred savings for employees
  • Funded by employee salary deductions
  • Totally portable since funds are held in a SEP IRA
  • Provides as much or more flexibility in the timing of contributions as a qualified profit sharing plan
Annual contribution limits may apply
  • $5 monthly fee if average balance is below $7,500
  • $4.99 monthly fee for online banking
  • $9.99 monthly fee for online banking with bill pay
  • Small fee of $.10 per item for each debit over 100
  • Balance requirement fee and per item fee for debits paid are waived for non-profit organizations

What our
customers say

You’re a person here, not a number. The people here know who you are when you walk in the door and treat you like family.

– First Citizens National Bank customer