Contribution Limits

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

Click each plan name for more information.

Plan Types 2019 Deadline 2020 Deadline
Traditional IRA *
Regular Limit $6,000 April 15, 2020 $6,000 April 15, 2021
Age 50 Catch-Up Limit $1,000 April 15, 2020 $1,000 April 15, 2021
Roth IRA *
Regular Limit $6,000 April 15, 2020 $6,000 April 15, 2021
Age 50 Catch-Up Limit $1,000 April 15, 2020 $1,000 April 15, 2021
Married/filing jointly or qualified widow(er):
AGI < $206,000
Up to the limit April 15, 2020 Up to the limit April 15, 2021
Married/filing jointly or qualified widow(er):
AGI < / = $193,000 < $206,000
reduced amount** April 15, 2020 reduced amount** April 15, 2021
Married/filing jointly or qualified widow(er):
AGI > / = $206,000
$0.00 April 15, 2020 $0.00 April 15, 2021
Married filing separately (lived with spouse)
AGI < $10,000
reduced amount** April 15, 2020 reduced amount** April 15, 2021
Married filing separately (lived with spouse)
AGI > / = $10,000
$0.00 April 15, 2020 $0.00 April 15, 2021
Single/head of household or married filing separately:
AGI < $139,000
Up to the limit April 15, 2020 Up to the limit April 15, 2021
Single/head of household or married filing separately:
AGI > / = $122,000 < $139,000
reduced amount** April 15, 2020 reduced amount** April 15, 2021
Single/head of household or married filing separately:
AGI > / + $137,000
$0.00 April 15, 2020 $0.00 April 15, 2021
Coverdell ESA
Contribution Limit*** $2,000 April 15, 2020 $2,000 April 15, 2021
HSA
Maximum Limit
Self-Only Coverage
$3,500 April 15, 2020 $3,550 April 15, 2021
Maximum Limit
Family Coverage
$7,000 April 15, 2020 $7,100 April 15, 2021
Age 55 Catch-Up Limit**** $1,000 April 15, 2020 $1,000 April 15, 2021
HDHP Minimum Annual Deductible
Self-Only Coverage
$1,350 April 15, 2020 $1,400 April 15, 2021
HDHP Minimum Annual Deductible
Family Coverage
$2,700 April 15, 2020 $2,800 April 15, 2021
HDHP Maximum Out of Pocket
Self-Only Coverage
$6,750 April 15, 2020 $6,900 April 15, 2021
HDHP Maximum Out of Pocket
Family Coverage
$13,500 April 15, 2020 $13,800 April 15, 2021
401(k)
Elective Deferral Limit $19,000 Deferred from last paycheck or December 31, 2019 $19,500 Deferred from last paycheck or December 31, 2020
Age 50 Catch-Up Limit $6,000 Deferred from last paycheck or December 31, 2019 $6,500 Deferred from last paycheck or December 31, 2020
Defined contribution maximum deferral
(employer/employee combined)
$56,000 April 15, 20120 or October 15, 2020 with extension $57,000 April 15, 2021 or October 15, 2021 with extension
SIMPLE
Elective Deferral Limit $13,000 Deferred from last paycheck or December 31, 2019 $13,500 Deferred from last paycheck or December 31, 2020
Age 50 Catch-Up Limit $3,000 Deferred from last paycheck or December 31, 2019 $3,000 Deferred from last paycheck or December 31, 2020
Limitation on Compensation $280,000 $285,000
SEP
Defined contribution maximum deferral
(employer/employee combined)
$56,000 October 15, 2020 $57,000 October 15, 2021
Age 50 Catch-Up Limit $6,000 Deferred from last paycheck or December 31, 2019 $6,500 Deferred from last paycheck or December 31, 2020
Limitation on Compensation $280,000 $285,000
Minimum Compensation $600 $600

*If you have both Traditional AND Roth IRAs, your maximum contribution to either one or to both is limited to $5,500 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.