Which of the following statements regarding self-employed retirement accounts is true?

A. A self-employed taxpayer who has hired employees may not set up a SEP IRA.

B.A self-employed taxpayer who has hired employees may set up either a SEP IRA or an individual 401(k).

C. A self-employed taxpayer who has hired employees may not set up an individual 401(k).

D. All of the choices are false.