Skip to Content

Advance IRA contribution

Last Updated December 17, 2015

Question: 

I received an unexpected bonus and I would like to put a portion of it in my IRA so as to help remove the temptation from spending it. However, I already contributed the maximum amount allowed for this year to my IRA. Can I make an IRA contribution for next year now?

Answer: 

No. A regular IRA contribution for a year must be made Between January 1 of the year, up to April 15 of the following year. Contributions before that period are not permitted.

Question answered by by Denise Appleby