When Traditional and Roth IRA contributions are due
Contributions must be received by your IRA custodian by April 15 of the year following the tax year. No extensions are available. Filing a tax return extension moves your return, not your IRA contribution deadline.
When SEP IRA contributions are due
SEP IRA contributions are made by the sponsoring business and may be made up to its tax filing deadline, including extensions. The extended date depends on which return the business files. For calendar-year filers:
- Sole proprietor or single-member LLC filing Schedule C with Form 1040: October 15
- Partnership or multi-member LLC filing Form 1065: September 15
- S corporation filing Form 1120-S: September 15
- C corporation filing Form 1120: October 15
When SIMPLE IRA contributions are due
Employee salary deferrals are withheld through payroll during the plan year and must be deposited within a short period after each paycheck, generally within 30 days of the end of the month in which the funds were withheld. Employer contributions follow the business tax filing deadline including extensions, on the same schedule as the SEP IRA dates above.
Designating a contribution for the prior year
A contribution made between January 1 and April 15 can count toward either the prior tax year or the current one, and the custodian cannot infer which you intended. Specify the tax year on your Deposit Coupon. A contribution submitted without a year designation is generally applied to the year it is received, which is the wrong year if you were contributing for the one just closed.
When a deadline falls on a weekend or holiday
If a contribution deadline falls on a Saturday, Sunday, or federal holiday, the deadline shifts to the next business day. This applies to all IRA types.
Allow time for custodial processing
Contributions to a self-directed IRA require processing time at IRA Resources before they are reflected in your account. Do not wait until the final days of the contribution window to send funds. Submit your contribution and Deposit Coupon with enough lead time for custodial processing, at least several business days before your deadline.
Frequently Asked Questions
Can I still contribute for last year after January 1?
Yes, for a Traditional or Roth IRA, through April 15. Designate the prior tax year on your Deposit Coupon, and allow processing time so the funds are received by the deadline rather than merely sent by it.
Does a tax filing extension give me more time to fund my Traditional or Roth IRA?
No. The April 15 deadline is fixed regardless of when you file. Extensions move SEP and SIMPLE IRA employer contribution deadlines, because those follow the business return, but they have no effect on a Traditional or Roth IRA contribution.
Can I contribute to both a SEP IRA and a Traditional or Roth IRA for the same year?
Yes. A SEP contribution is made by the business and does not consume your personal IRA contribution limit. Participation in a SEP can affect whether your Traditional IRA contribution is deductible, which depends on your income and filing status, so confirm deductibility with your tax advisor.