We’re aware of a phishing campaign in which cybercriminals were using domains similar to our own to mimic official Equity Trust emails. Please note that all emails from Equity Trust will only come from the domain @trustetc.com, including @email.trustetc.com. We have already worked with officials to have this attack neutralized. If you were the recipient of one of these emails, please delete the message.
IRA Contribution Limits, Catch Up Provisions and Contribution Deadlines
Infographic summarizing IRS contribution limits and catch up provisions for retirement accounts
2019 IRA Contributions & Deductions Infographic
View 2020
Helpful summaries of each plan available, including specifics on annual contribution limits.
View Guide
The IRS has published maximum IRA contribution limits and catch-up provisions for 2019 and 2020.
(Summaries for each account type are listed in the tables below.)
November 6, 2019, WASHINGTON — IR-2019-179, Increase in 2020 eligibility income ranges for deductible contributions to traditional and Roth IRAs.(2020 IRA limit remains unchanged at $6,000)
November 1, 2018, WASHINGTON — IR-2018-211, IRA limit increases to $6,000
Traditional & Roth IRA | SEP IRA | SIMPLE IRA | Solo 401(k) | CESA | HSA
| 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. |
| 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: 2020 Single: $124,000 – $139,000 Married Filing Jointly: $196,000 – $206,000 2020 Traditional & Roth IRA Contribution Deadline is 4/15/2021. |
| Simplified Employee Pension (SEP) IRA Contribution Limits | ||
| Year | Max Dollar Allocation | Max Considered Compensation |
| 2019 | $56,000 | $280,000 |
| 2020 | $57,000 | $285,000 |
| 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. |
| 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 |
| 2020 | $13,500 | $16,500 |
| 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. 2020 SIMPLE IRA Contribution Deadline for Employees is 12/31/2020. |
| 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. 2020 CESA Contribution Deadline is 4/15/2021. |
For more CESA information see IRA Publication 970.
| 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. |
| 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) | $3,550 | $4,550 |
| Family | $7,100 | $8,100 |
| Health Plan Requirements | ||
| High Deductible Health Plan Coverage | Minimum Deductible of at Least: | Annual Out-of-Pocket Expense Limit |
| Individual (Self Only) | $1,400 | $ 6,900 |
| Family | $2,800 | $13,800 |
| 2020 HSA Contribution Deadline is 4/15/2021. |
For more HSA information see IRA Publication 969.
You are leaving the Trustetc.com to enter the ETC Brokerage Services (Member FINRA/SIPC) website, the registered broker-dealer affiliate of Equity Trust Company. ETC Brokerage Services provides access to brokerage and investment products which ARE NOT FDIC insured. ETC Brokerage does not provide investment advice or recommendations as to any investment. All investments are selected and made solely by self-directed account owners.
Continue
