Traditional | Roth | Coverdell ESA | HSA | 401(k) | SIMPLE | SEP

Click each plan name for more information.

Due to COVID-19, the SECURE ACT and CARES ACT,
there are other changes to IRA Contribution rules. Go Here for More Details

Plan Types2021Deadline2022Deadline
Traditional IRA *
Regular Limit$6,000April 18, 2022$6,000April 17, 2023
Age 50 Catch-Up Limit$1,000April 18, 2022$1,000April 17, 2023
AGI Reduction Joint Return$105,000N/A$109,000N/A
AGI Single or Head of Household$66,000N/A$68,000N/A
Roth IRA *
Regular Limit$6,000April 18, 2022$6,000April 17, 2023
Age 50 Catch-Up Limit$1,000April 18, 2022$1,000April 17, 2023
Married/filing jointly or qualified widow(er):
AGI
Less than $198,000$6,000 ($7,000 if 50 or older)Less than $204,000$6,000 ($7,000 if 50 or older)
Married/filing jointly or qualified widow(er):
AGI
$198,000 to $208,999reduced amount**$204,000 to $214,000reduced amount**
Married/filing jointly or qualified widow(er):
AGI
$208,000 or morenot eligible$214,000 or morenot eligible
Married filing separately (lived with spouse)
AGI
Less than $10,000reduced amount**Less than $10,000reduced amount**
Married filing separately (lived with spouse)
AGI
$10,000 or morenot eligible$10,000 or morenot eligible
Single/head of household or married filing separately
AGI
Less than $125,000$6,000 ($7,000 if 50 or older)Less than $129,000$6,000 ($7,000 if 50 or older)
Single/head of household or married filing separately AGI$125,000 to $140,999contribution is reduced$129,000 to $144,000contribution is reduced
Single/head of household or married filing separately:
AGI
$140,000 or morenot eligible$144,000 or morenot eligible
Coverdell ESA
Contribution Limit***$2,000April 18, 2022$2,000April 17, 2023
HSA
Maximum Limit
Self-Only Coverage
$3,600April 18, 2022$3,650April 17, 2023
Maximum Limit
Family Coverage
$7,200April 18, 2022$7,300April 17, 2023
Age 55 Catch-Up Limit****$1,000April 18, 2022$1,000April 17, 2023
HDHP Minimum Annual Deductible
Self-Only Coverage
$1,400April 18, 2022$1,400April 17, 2023
HDHP Minimum Annual Deductible
Family Coverage
$2,800April 18, 2022$2,800April 17, 2023
HDHP Maximum Out of Pocket
Self-Only Coverage
$7,000May 17, 2021$7,050April 17, 2023
HDHP Maximum Out of Pocket
Family Coverage
$14,000April 18, 2022$14,100April 17, 2023
401(k)
Elective Deferral Limit$19,500Deferred from last paycheck or December 31, 2021$20,500Deferred from last paycheck or December 31, 2022
Age 50 Catch-Up Limit$6,500Deferred from last paycheck or December 31, 202$6,500Deferred from last paycheck or December 31, 2022
Defined contribution maximum deferral
(employer/employee combined)
$58,000April 18, 2022 or October 17, 2022 with extension$61,000April 17, 2023 or October 15, 2023 with extension
SIMPLE
Elective Deferral Limit$13,500Deferred from last paycheck or December 31, 2021$14,000Deferred from last paycheck or December 31, 2022
Age 50 Catch-Up Limit$3,000Deferred from last paycheck or December 31, 2021$3,000Deferred from last paycheck or December 31, 2022
Limitation on Compensation$290,000$305,000
SEP
Defined contribution maximum deferral
(employer/employee combined)
$58,000April 18, 2022
October 17, 2022 if employer files for extension
$61,000April 17, 2023
Limitation on Compensation$290,000$305,000
Minimum Compensation$650$650

*If you have both Traditional AND Roth IRAs, your maximum contribution to either one or to both is limited to $6,000 total, plus $1,000 if age 50 or older.

**Consult your financial advisor, accountant or tax specialist.

***Companies may contribute to ESA’s (no income limit).

****If more than 1 person in the Family Plan is over 55 an additional account is required to make catch-up contribution.