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What is an IRA Contribution?
 

An IRA contribution is the dollar amount that an IRA holder (and/or their employer in the case of an employer-sponsored plan) puts into their IRA. All IRA contributions must be made by check, wire transfer, or cash. Certain requirements must be met in order to contribute to each account type. IRA contributions are discretionary, meaning that you are not required to make deposits every year.

Each type of IRA has an annual contribution limit and a date by which the contribution must be made. The IRS has released 2017/2018 IRA contribution limits for Traditional IRAs, Roth IRAs, SEP IRAs, SIMPLE IRAs, Individual 401(k) plans, HSAs and ESAs which are viewable in the sections below. Click for detailed information on each account type or explore our IRA contribution FAQs and downloadable chart.

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Traditional IRA & Roth IRA Contribution Limits

Total annual contributions to Traditional IRAs and Roth IRAs combined cannot exceed $5,500 for those under age 50 or $6,500 for those aged 50 or older. 2018 numbers, released by the IRS, remain the same.

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SIMPLE IRA, SEP IRA, & Individual 401(k) Contribution Limits

SIMPLE contribution limits for those under age 50 is $12,500 with a $3,000 catch-up elective for those 50 or older. The 2017 SEP employer contribution may be up to 25% of compensation or a maximum of $54,000.

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ESA (Education) & HSA (Health) Contribution Limits

The Education Savings Account (ESA) contribution limit for 2017 and 2018 is $2,000. Health Savings Account (HSA) contribution limits for single coverage and family coverage are $3,400 and $6,750 respectively.

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IRA Contribution Rules and FAQs

Self-Directed IRA contribution rules, FAQs, and important deadlines for all account types.

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IRA Contribution Limits 2017 & 2018

Download this useful chart (PDF) which outlines contribution limits for each account type. 

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