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 Types2022Deadline2023Deadline
Traditional IRA *
Regular Limit$6,000April 17, 2023$6,500April 15, 2024
Age 50 Catch-Up Limit$1,000April 17, 2023$1,000April 15, 2024
AGI Phase-Out Married Joint Return$109,000-$129,000N/A$116,000-$136,000N/A
AGI Phase Out Unmarried$68,000-$78,000N/A$73,000-$83,000N/A
AGI Phase Out Married Separate Returns$0-$10,000N/A$0-$10,000N/A
AGI Phase Out Non-Active Participant Spouse$204,000-$214,000N/A$218,000-$228,000N/A
Roth IRA *
Regular Limit$6,000April 17, 2023$6,500April 15, 2024
Age 50 Catch-Up Limit$1,000April 17, 2023$1,000April 15, 2024
AGI Phase Out Married Joint Return$204,000-$214,000N/A$218,000-$228,000N/A
AGI Phase Out Married Separate Returns$0-$10,000N/A$0-$10,000N/A
AGI Phase Out Unmarried$129,000-$144,000N/A$138,000-$153,000N/A
Coverdell ESA
Contribution Limit***$2,000April 17, 2023$2,000April 15, 2024
AGI Phase Out Married Joint Return$190,000-$220,000N/A$190,000-$220,000N/A
AGI Phase Out Unmarried$95,000-$110,000N/A$95,000-$110,000N/A
HSA
Maximum Contribution
Self-Only Coverage
$3,650April 17, 2023$3,850April 15, 2024
Maximum Contribution
Family Coverage
$7,300April 17, 2023$7,750April 15, 2024
Age 55 Catch-Up Limit****$1,000April 17, 2023$1,000April 15, 2024
HDHP Minimum Annual Deductible
Self-Only Coverage
$1,400April 17, 2023$1,500April 15, 2024
HDHP Minimum Annual Deductible
Family Coverage
$2,800April 17, 2023$3,000April 15, 2024
HDHP Maximum Out of Pocket
Self-Only Coverage
$7,050April 17, 2023$7,500April 15, 2024
HDHP Maximum Out of Pocket
Family Coverage
$14,100April 17, 2023$15,000April 15, 2024
401(k)
Elective Deferral Limit$20,500Deferred from last paycheck or December 31, 2022$22,500Deferred from last paycheck or December 31, 2023
Age 50 Catch-Up Limit$6,500Deferred from last paycheck or December 31, 2022$7,500Deferred from last paycheck or December 31, 2023
Defined contribution maximum deferral
(employer/employee combined)
$61,000April 17, 2023 or October 16, 2023 with extension$66,000April 15, 2024 or October 15, 2024 with extension
SIMPLE
Elective Deferral Limit$14,000Deferred from last paycheck or December 31, 2022$15,500Deferred from last paycheck or December 31, 2023
Age 50 Catch-Up Limit$3,000Deferred from last paycheck or December 31, 2022$3,500Deferred from last paycheck or December 31, 2023
Limitation on Compensation$305,000N/A$330,000N/A
SEP
Defined contribution maximum deferral
(employer/employee combined)
$61,000April 17, 2023
October 16, 2023 if employer files for extension
$66,000April 15, 2024
Limitation on Compensation$305,000N/A$330,000N/A
Minimum Compensation$650N/A$750N/A

*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.