Contribution Limits

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 Types 2020 Deadline 2021 Deadline
Traditional IRA *
Regular Limit $6,000 May 17, 2021 $6,000 April 15, 2022
Age 50 Catch-Up Limit $1,000 May 17, 2021 $1,000 April 15, 2022
AGI Reduction Joint Return $104,000 N/A $105,000 N/A
AGI Single or Head of Household $65,000 N/A $66,000 N/A
Roth IRA *
Regular Limit $6,000 May 17, 2021 $6,000 April 15, 2022
Age 50 Catch-Up Limit $1,000 May 17, 2021 $1,000 April 15, 2022
Married/filing jointly or qualified widow(er):
AGI
Less than $196,000 $6,000 ($7,000 if 50 or older) Less than $198,000 $6,000 ($7,000 if 50 or older)
Married/filing jointly or qualified widow(er):
AGI
$196,000 to $205,999 reduced amount** $198,000 to $208,000 reduced amount**
Married/filing jointly or qualified widow(er):
AGI
$206,000 or more not eligible $203,000 or more not eligible
Married filing separately (lived with spouse)
AGI
Less than $10,000 reduced amount** Less than $10,000 reduced amount**
Married filing separately (lived with spouse)
AGI
$10,000 or more not eligible $10,000 or more not eligible
Single/head of household or married filing separately
AGI
Less than $124,000 $6,000 ($7,000 if 50 or older)  Less than $125,000 $6,000 ($7,000 if 50 or older)
Single/head of household or married filing separately AGI $124,000 to $138,999 contribution is reduced $125,000 to $140,000 contribution is reduced
Single/head of household or married filing separately:
AGI
$139,000 or more not eligible $137,000 or more not eligible
Coverdell ESA
Contribution Limit*** $2,000 May 17, 2021 $2,000 April 15, 2022
HSA
Maximum Limit
Self-Only Coverage
$3,500 May 17, 2021 $3,600 April 15, 2022
Maximum Limit
Family Coverage
$7,100 May 17, 2021 $7,200 April 15, 2022
Age 55 Catch-Up Limit**** $1,000 May 17, 2021 $1,000 April 15, 2022
HDHP Minimum Annual Deductible
Self-Only Coverage
$1,450 May 17, 2021 $1,400 April 15, 2022
HDHP Minimum Annual Deductible
Family Coverage
$2,800 May 17, 2021 $2,800 April 15, 2022
HDHP Maximum Out of Pocket
Self-Only Coverage
$6,900 May 17, 2021 $7,000 April 15, 2022
HDHP Maximum Out of Pocket
Family Coverage
$13,800 May 17, 2021 $14,000 April 15, 2022
401(k)
Elective Deferral Limit $19,500 Deferred from last paycheck or December 31, 2020 $19,500 Deferred from last paycheck or December 31, 2021
Age 50 Catch-Up Limit $6,500 Deferred from last paycheck or December 31, 2020 $6,500 Deferred from last paycheck or December 31, 2021
Defined contribution maximum deferral
(employer/employee combined)
$57,000 May 17, 2021 or October 15, 2021 with extension $58,000 April 15, 2022 or October 15, 2022 with extension
SIMPLE
Elective Deferral Limit $13,500 Deferred from last paycheck or December 31, 2020 $13,500 Deferred from last paycheck or December 31, 2021
Age 50 Catch-Up Limit $3,000 Deferred from last paycheck or December 31, 2020 $3,000 Deferred from last paycheck or December 31, 2021
Limitation on Compensation $285,000 $285,000
SEP
Defined contribution maximum deferral
(employer/employee combined)
$57,000 May 17, 2021 $58,000 April 15, 2022
Age 50 Catch-Up Limit $6,500 Deferred from last paycheck or December 31, 2020 $6,500 Deferred from last paycheck or December 31, 2021
Limitation on Compensation $285,000 $290,000
Minimum Compensation $600 $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.