Contribution Limits

The IRS has published maximum IRA contribution limits and catch-up provisions for 2015 and 2016. Summaries for each type of IRA are listed in the tables below.

Check out our infographic for a visual depiction of 2015 contributions and deductions based on Modified Adjusted Gross Income (MAGI).

2015 Traditional & Roth IRA Contribution Limits

Traditional & Roth IRA Contributions and Catch Up Provisions
Plan Name Standard Limit Catch-up Limit (Age 50 and older)
Traditional $5,500 $6,500
Roth* $5,500 $6,500
*Modified AGI Limits:
2015

Single: $116,000 - $131,000
Married Filing Jointly: $183,000 - $193,000

2015 Traditional & Roth IRA Contribution Deadline is 4/18/2016.*


2016 Traditional & Roth IRA Contribution Limits

Traditional & Roth IRA Contributions and Catch Up Provisions
Plan Name Standard Limit Catch-up Limit (Age 50 and older)
Traditional $5,500 $6,500
Roth* $5,500 $6,500
*Modified AGI Limits:
2016

Single: $117,000 - $132,000
Married Filing Jointly: $184,000 - $194,000

2016 Traditional & Roth IRA Contribution Deadline is 4/15/2017.

 
SEP IRA Contribution Limits

Simplified Employee Pension (SEP) IRA Contribution Limits
Year Max Dollar Allocation Max Considered Compensation
     
2015 $53,000 $265,000
2016 $53,000 $265,000
The maximum amount that can be contributed to a simplified pension plan (SEP) plan is 25% of an employee's compensation, which is capped at a maximum as indicated above.

2015 SEP IRA Contribution Deadline is 4/18/2016.*
2016 SEP IRA Contribution Deadline is 4/15/2017.

 
SIMPLE IRA Contribution Limits

Savings Incentive Match Plan for Employees (SIMPLE) IRA Contributions and Catch Up Provisions
Year Standard Limit Catch-up Limit (Age 50 and older )
2015 $12,500 $15,500
2016 $12,500 $15,500
Employers are generally required to match each employee's salary reduction contributions, on a dollar-for-dollar basis, up to 3% of the employee's compensation.

2015 SIMPLE IRA Contribution Deadline for Employees is 12/31/2015.
2015 SIMPLE IRA Contribution Deadline for Employers is 4/18/2016.*

2016 SIMPLE IRA Contribution Deadline for Employees is 12/31/2016.
2016 SIMPLE IRA Contribution Deadline for Employers is 4/15/2017.

 
401(k) and Solo(k) Contribution Limits

401(k) & Solo(k) Plans: Employee Salary Deferral Limits
Year Standard Limit Catch-up Limit (Age 50 and older)
     
2015 $18,000 $24,000
2016 $18,000 $24,000

Employer can contribute up to $35,000 in 2015 and in 2016.
2015 / 2016 401(k) & Solo(k) Contribution Deadline is December 31 for calendar year reporting.

 
2015 and 2016 CESA Contribution Limits

Coverdell Educational Savings Account (CESA) Contribution Limits
Standard Limit
(up to age 18)
Modified AGI Limits to Qualify for Account
$2,000 Single: $95,000 - $110,000
Married Filing Joint: $190,000 - $220,000
2015 CESA Contribution Deadline is 4/18/2016.*
2016 CESA Contribution Deadline is 4/15/2017.

 
2015 HSA Contribution Limits

Health Savings Account (HSA) Contribution Limits
High Deductible
Health Plan Coverage
Standard Limit
(under age 55)
Catch-up Limit
(Age 55 - 65, 65 and older if you qualify)
Individual (Self Only) $3,350 $4,350
Family $6,650 $7,650
Health Plan Requirements
High Deductible
Health Plan Coverage
Minimum Deductible
of at Least:
Annual Out-of-Pocket Expense Limit
Individual (Self Only) $1,300 $ 6,450
Family $2,600 $12,900
2015 HSA Contribution Deadline is 4/18/2016.*


2016 HSA Contribution Limits
Health Savings Account (HSA) Contribution Limits
High Deductible
Health Plan Coverage
Standard Limit
(under age 55)
Catch-up Limit
(Age 55 - 65, 65 and older if you qualify)
Individual (Self Only) $3,350 $4,350
Family $6,750 $7,750
Health Plan Requirements
High Deductible
Health Plan Coverage
Minimum Deductible
of at Least:
Annual Out-of-Pocket Expense Limit
Individual (Self Only) $1,300 $ 6,550
Family $2,600 $13,100
2016 HSA Contribution Deadline is 4/15/2017.

*According to IRS.gov, 2015 Publication 590-A the due date for 2015 contributions is April 18, 2016, due to the observance of Emancipation Day in Washington DC.