The contribution rules for IRAs with alternative assets (such as real estate or private equity) are the same as IRAs with exchange-traded assets (such as mutual funds or publicly-traded stocks). Use the table below to determine your contribution deadline and limits.
For further information including eligibility, please see IRS Notice 2024-80.
| Account / Contribution Type | Contribution Deadline | Year | Contribution Limit | Catch-up (50 years+) Contribution Limit |
|---|---|---|---|---|
| Traditional & Roth IRA contribution | April 151 | 2023 | $6,500 | $1,000 |
| 2024 | $7,000 | $1,000 | ||
| 2025 | $7,000 | $1,000 | ||
| SEP IRA contribution | SEP contributions must be made by the tax-filing deadline, which is the last day of the company's fiscal year. | 2023 | $66,0002 | N/A |
| 2024 | $69,0002 | N/A | ||
| 2025 | $70,0002 | N/A | ||
| Solo(k) employee deferral contribution | The deadline for having a deferral contribution taken is the Employer tax filing deadline plus any extensions. The deposit deadline of such contribution is determined by DOL and IRS regulations. | 2023 | $22,5003 | $7,5004 |
| 2024 | $23,0003 | $7,5004 | ||
| 2025 | $23,5003 | $7,5004 | ||
| SIMPLE IRA contribution | Employer must contribute deferrals within 30 days after the end of the month when the employee would have received them in cash. | 2023 | $15,500 | $3,5005 |
| 2024 | $16,000 | $3,5005 | ||
| 2025 | $16,500 | $3,5005 | ||
| Coverdell ESA contribution | April 151 | 2023 | $2,000 | N/A |
| 2024 | $2,000 | N/A | ||
| 2025 | $2,000 | N/A |
1With certain exceptions for weekends and holidays, April 15 is normally the deadline for filing your federal income tax is also the deadline to make your final Traditional IRA and Roth IRA contributions. Tax-filing extensions do not apply to traditional IRA or Roth IRA contributions.
2The lesser of the stated dollar amount or 25% of compensation up to the compensation limit of $330,000 for 2023, $345,0000 for 2024, and $350,000 for 2025. All SEP contributions are reported in the year during which contributions are made.
3Total employer and employee contributions may not exceed $66,000 for 2023, $69,000 for $2024 and $70,000 for 2025. For more information, including prior year total limits, see the One Participant 401k Plans | Internal Revenue Service.
4Pursuant to Section 109 of SECURE Act 2.0 of 2022, the limit for individuals who attain age 60, 61, 62, or 63 in 2025 is $11,250, and subject to change for cost of living adjustments. Note: The new catch-up contribution limit must be made on a Roth basis if the participant’s wages for FICA tax purposes for the prior year are above $145,000 (indexed), pursuant to section 603 of the Act. The provision applies to taxable years beginning after December 31, 2024.
5Pursuant to Section 109 of SECURE Act 2.0 of 2022, the limit for individuals who attain age 60, 61, 62, or 63 in 2025 is $5,250, and subject to change for cost of living adjustments. Note: The new catch-up contribution limit must be made on a Roth basis if the participant’s wages for FICA tax purposes for the prior year are above $145,000 (indexed), pursuant to section 603 of the Act.
Phase-Out Ranges
| Traditional IRA Phase-Out Ranges for 2025: | |
|---|---|
| Single taxpayers covered by a workplace retirement plan. | $79,000 – $89,000 |
| Married couples filing jointly. This applies when the spouse making the IRA contribution is covered by a workplace retirement plan. | $126,000 – $146,000 |
| A taxpayer not covered by a workplace retirement plan, married to someone who’s covered. | $236,000 – $246,000 |
| Married filing a separate return. This applies to taxpayers covered by a workplace retirement plan. | $0 – $10,000 |
| Roth IRA Income Phase-Out Ranges for Taxpayers Making Contributions: | |
| Single taxpayers and heads of household | $150,000 – $165,000 |
| Married, filing jointly | $236,000 – $246,000 |
| Married, filing separately | $0 – $10,000 |