2019 IRA Contribution Limit Guide
The IRS has published maximum IRA contribution limits and catch-up provisions for 2018 and 2019. Summaries for each account type are listed in the tables below.
READ MOREIRA Contribution Limits, Catch Up Provisions and Contribution Deadlines
The IRS has published maximum IRA contribution limits and catch-up provisions for 2018 and 2019. Summaries for each account type are listed in the tables below.
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IRS NEWS: 401(k) contribution limit increases to $19,000 for 2019; IRA limit increases to $6,000
Nov. 1, 2018 – WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. The IRS today issued technical guidance detailing these items in Notice 2018-83.
READ MORE2019 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 | $6,000 | $7,000 |
| Roth3 | $6,000 | $7,000 |
| 3Modified AGI Limits: 2019 Single: $122,000 – $137,000 Married Filing Jointly: $193,000 – $203,000 2019 Traditional & Roth IRA Contribution Deadline is 4/15/2020. |
2018 IRA Contribution Limit Guide
2018 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 |
| Roth3 | $5,500 | $6,500 |
| 3Modified AGI Limits: 2018 Single: $120,000 – $135,000 Married Filing Jointly: $189,000 – $199,000 2018 Traditional & Roth IRA Contribution Deadline is 4/15/2019. |
2019/2018 – SEP IRA Contribution Limits
| Simplified Employee Pension (SEP) IRA Contribution Limits | ||
| Year | Max Dollar Allocation | Max Considered Compensation |
| 2019 | $56,000 | $280,000 |
| 2018 | $55,000 | $275,000 |
| The maximum amount that can be contributed to a simplified pension plan (SEP) is 25% of an employee’s compensation, which is capped at a maximum as indicated above. 2019 SEP IRA Contribution Deadline is 4/15/2020. 2018 SEP IRA Contribution Deadline is 4/15/2019. |
2019/2018 – 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 ) |
| 2019 | $13,000 | $16,000 |
| 2018 | $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. 2019 SIMPLE IRA Contribution Deadline for Employees is 12/31/2019. 2019 SIMPLE IRA Contribution Deadline for Employers is 4/15/2020. 2018 SIMPLE IRA Contribution Deadline for Employees is 12/31/2018. 2018 SIMPLE IRA Contribution Deadline for Employers is 4/15/2019. |
2019/2018 – 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) |
| 2019 | $19,000 | $25,000 |
| 2019 Maximum | $56,000 | $62,000 |
| 2018 | $18,500 | $24,500 |
| 2018 Maximum | $55,000 | $61,000 |
2019 / 2018 401(k) & Solo(k) Contribution Deadline is December 31 for calendar year reporting. |
2019 and 2018 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 |
| 2019 CESA Contribution Deadline is 4/15/2020. 2018 CESA Contribution Deadline is 4/15/2019. |
2019 – 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) | $3,500 | $4,500 |
| Family | $7,000 | $8,000 |
| Health Plan Requirements | ||
| High Deductible Health Plan Coverage | Minimum Deductible of at Least: | Annual Out-of-Pocket Expense Limit |
| Individual (Self Only) | $1,350 | $ 6,750 |
| Family | $2,700 | $13,500 |
| 2019 HSA Contribution Deadline is 4/15/2020. |
2018 – 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) | $3,450 | $4,450 |
| Family | $6,900 | $7,900 |
| Health Plan Requirements | ||
| High Deductible Health Plan Coverage | Minimum Deductible of at Least: | Annual Out-of-Pocket Expense Limit |
| Individual (Self Only) | $1,350 | $ 6,650 |
| Family | $2,700 | $13,300 |
| 2018 HSA Contribution Deadline is 4/15/2019. |
For more information see IRA Publication 969.