Complete Form 5304-SIMPLE or 5305-SIMPLE to set up a plan. No employer IRS reporting required.The Franklin Templeton Solo(k) is the retirement solution for small business owners. Work with Franklin Templeton, the world's top cross-border fund manager. The SEPIRA and individual or "solo" 401(k) are two popular options for retirement savings. Each tax year, you may be required to fill out Form 5500, depending on the type of plan you choose. Self-Employed Retirement Plans. Estimate the maximum contribution amount for a Self-Employed 401(k), SIMPLE IRA, or SEP. 457 Plan Special Catch-up Contributions -(pdf file). If you're self-employed and you want to learn about retirement planning and investing, this podcast is for you.