Contribution Limits

The IRS has published maximum IRA contribution limits and catch up provisions for 2013 and 2014. Summaries for each type of IRA are listed in the tables below.

Check out our infographic for a visual depiction of 2013 contributions and deductions based on Modified Adjusted Gross Income (MAGI).

2013 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:
2013

Single: $112,000 - $127,000
Married Filing Jointly: $178,000 - $188,000

2013 Traditional & Roth IRA Contribution Deadline is 4/15/2014.


2014 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:
2014

Single: $114,000 - $129,000
Married Filing Jointly: $181,000 - $191,000

2014 Traditional & Roth IRA Contribution Deadline is 4/15/2015.

 
SEP IRA Contribution Limits

Simplified Employee Pension (SEP) IRA Contribution Limits
Year Max Dollar Allocation Max Considered Compensation
     
2013 $51,000 $255,000
2014 $52,000 $260,000
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.

2013 SEP IRA Contribution Deadline is 4/15/2014.
2014 SEP IRA Contribution Deadline is 4/15/2015.

 
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 )
2013 $12,000 $14,500
2014 $12,000 $14,500
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.

2013 SIMPLE IRA Contribution Deadline for Employees is 12/31/2013.
2013 SIMPLE IRA Contribution Deadline for Employers is 4/15/2014.

2014 SIMPLE IRA Contribution Deadline for Employees is 12/31/2014.
2014 SIMPLE IRA Contribution Deadline for Employers is 4/15/2015.

 
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)
     
2013 $17,500 $23,000
2014 $17,500 $23,000

Employer can contribute up to $33,500 in 2013 and 2014.
2013 / 2014 401(k) & Solo(k) Contribution Deadline is December 31 for calendar year reporting.

 
2013 and 2014 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
2013 CESA Contribution Deadline is 4/15/2014.
2014 CESA Contribution Deadline is 4/15/2015.

 
2013 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) $3,250 $4,250
Family $6,450 $7,450
Health Plan Requirements
High Deductible
Health Plan Coverage
Minimum Deductible
of at Least:
Annual Out-of-Pocket Expense Limit
Individual (Self Only) $1,250 $ 6,250
Family $2,500 $12,500
2013 HSA Contribution Deadline is 4/15/2014.


2014 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) $3,300 $4,300
Family $6,550 $7,550
Health Plan Requirements
High Deductible
Health Plan Coverage
Minimum Deductible
of at Least:
Annual Out-of-Pocket Expense Limit
Individual (Self Only) $1,250 $ 6,350
Family $2,500 $12,700
2014 HSA Contribution Deadline is 4/15/2015.