Contribution Limits

The IRS has published maximum IRA contribution limits and catch-up provisions for 2018 and 2019. Summaries for each type of IRA are listed in the tables below.
 

NEWS: 401(k) contribution limit increases to $19,000 for 2019; IRA limit increases to $6,000

IR-2018-211, 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.

 


2019 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 4/15/2020.2


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 4/15/2019.2

 

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 4/15/2020.2
2018 SEP IRA Contribution Deadline is 4/15/2019.2


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 4/15/2020.2

2018 SIMPLE IRA Contribution Deadline for Employees is 12/31/2018.
2018 SIMPLE IRA Contribution Deadline for Employers is 4/15/2019.2

 
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 4/15/2020.2
2018 CESA Contribution Deadline is 4/15/2019.2


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 4/15/2019.2



2IRA contribution deadlines follow the tax filing deadlines and according to IRS.gov, if the tax filing due date falls on a Saturday, Sunday or legal holiday, the due date is considered to be the next business day.