Self Directed IRA Contribution Limits

Retirement Account Contribution Limits

There are important IRS rules regarding contributions to your IRA account. For details see IRS Publication 590A.

For 2020 and later there is no age limit on making regular contributions to a Traditional or Roth IRA as long as you have earned income during the contribution year. You cannot contribute more than you earn. Contributions must be made by the deadline date.

Contribution Limits

Account / Contribution Type	Contribution Deadline	Tax Year	Contribution Limit	Contribution Limit with Catch-up (50+ Years)
Traditional IRA	Tax year deadline usually April 15th (2020 extension to July 15th)	2019	$6,000	$7,000
		2020	$6,000	$7,000
		2021	$6,000	$7,000
Roth IRA	Tax year deadline usually April 15th (2020 extension to July 15th)	2019	$6,000 * see below	$7,000 * see below
		2020	$6,000 * see below	$7,000 * see below
		2021	$6,000 * see below	$7,000 * see below
SEP IRA	Business tax-filing deadline plus extensions	2019	Up to 25% of compensation to a maximum of $56,000	Up to 25% of compensation to a maximum of $63,000
		2020	Up to 25% of compensation to a maximum of $57,000	Up to 25% of compensation to a maximum of $63,500
		2021	Up to 25% of compensation to a maximum of $58,000	Up to 25% of compensation to a maximum of $63,500
SIMPLE IRA Employee elective deferral	For employees December 31st	2019	$13,000	$16,000
		2020	$13,500	$16,500
		2021	$13,500	$16,500
Individual 401(k) Employee elective deferral	For employee contribution December 31st Refer to the IRS.gov for specific details.	2019	$19,000	$25,000
		2020	$19,500	$26,000
		2021	$19,500	$26,000
Individual 401(k) Employer portion	Tax year deadline usually April 15th Refer to the IRS.gov for specific details.	2019	Up to 25% of compensation to a maximum deferral plus employer total of $56,000	Up to 25% of compensation to a maximum deferral plus employer total of $63,000
		2020	Up to 25% of compensation to a maximum deferral plus employer total of $57,000	Up to 25% of compensation to a maximum deferral plus employer total of $63,500
		2021	Up to 25% of compensation to a maximum deferral plus employer total of $58,000	Up to 25% of compensation to a maximum deferral plus employer total of $63,500

Filing Status	2020 Modified AGI	2020 Maximum Contribution	2021 Modified AGI	2021 Maximum Contribution
Married filing jointly or qualifying widow/widower	Less than $196,000	$6,000 ($7,000 if 50+)	Less than $198,000	$6,000 ($7,000 if 50+)
$196,000 to $205,999	Contribution is reduced	$198,000 to $207,999	Contribution is reduced
$206,000 or more	Not eligible	$208,000 or more	Not eligible
Single, head of household or married filing separately (if you did not live with spouse during the year)	Less than $124,000	$6,000 ($7,000 if 50+)	Less than $125,000	$6,000 ($7,000 if 50+)
$124,000 to $138,999	Contribution is reduced	$125,000 to $139,999	Contribution is reduced
$139,000 or more	Not eligible	$140,000 or more	Not eligible
Married filing separately (if you lived with spouse at any time during year)	Less than $10,000	Contribution is reduced	Less than $10,000	Contribution is reduced
$10,000 or more	Not eligible	$10,000 or more	Not eligible

Filing Status

2020 Modified AGI

2020 Maximum Contribution

2021 Modified AGI

2021 Maximum Contribution

Married filing jointly or qualifying widow/widower

Less than $196,000

$6,000 ($7,000 if 50+)

Less than $198,000

$6,000 ($7,000 if 50+)

$196,000 to $205,999

Contribution is reduced

$198,000 to $207,999

Contribution is reduced

$206,000 or more

Not eligible

$208,000 or more

Not eligible

Single, head of household or married filing separately (if you did not live with spouse during the year)

Less than $124,000

$6,000 ($7,000 if 50+)

Less than $125,000

$6,000 ($7,000 if 50+)

$124,000 to $138,999

Contribution is reduced

$125,000 to $139,999

Contribution is reduced

$139,000 or more

Not eligible

$140,000 or more

Not eligible

Married filing separately (if you lived with spouse at any time during year)

Less than $10,000

Contribution is reduced

Less than $10,000

Contribution is reduced

$10,000 or more

Not eligible

$10,000 or more

Not eligible

Retirement Account Contribution Limits

Contribution Limits

Roth IRA Contribution Eligibility Is Constrained Based On Income Level

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