2019 IRA Contribution Limit
For 2019, the IRA Contribution Limit is $6,000 (Annual contribution limit) and +$1,000 (Catch-up contribution limit, age 50 and over).
Effective 2019-01-01Source: IR-2018-211 (IRS)Verified 2026-09-01
Compared with 2018
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Annual contribution limit | $5,500 | $6,000 | +$500 (+9.1%) |
| Catch-up contribution limit, age 50 and over | +$1,000 | +$1,000 | +$0 (+0.0%) |
Who it applies to
Taxpayers who contribute to traditional and Roth Individual Retirement Arrangements (IRAs) for the 2019 tax year.
What changed this year, and why
The annual contribution limit for Individual Retirement Arrangements (IRAs) increased for 2019. The limit is $6,000 for 2019. The catch-up contribution limit for individuals aged 50 and over remains $1,000.
Common questions
- What is the IRA contribution limit for 2019?
- The annual IRA contribution limit for 2019 is $6,000. Individuals who are age 50 or older may contribute an additional $1,000 as a catch-up contribution.
- Is the catch-up contribution limit subject to cost-of-living adjustments?
- No. The catch-up contribution limit of $1,000 for individuals aged 50 and over is not subject to annual cost-of-living adjustments.
The extra amount once you reach 50
For 2019, the base contribution limit for a traditional IRA or Roth IRA is $6,000. If you were age 50 or older by the end of 2019, you are allowed to contribute an additional $1,000, bringing your total limit to $7,000. This extra $1,000 is known as a catch-up contribution and is designed to help older workers build more retirement savings as they approach retirement age. The catch-up amount applies per individual, so if both spouses are 50 or older, each may contribute up to $7,000 to their own IRA. This rule applies regardless of whether your contributions are deductible or nondeductible, and it is subject to the overall requirement that you cannot contribute more than your taxable compensation for the year.
For 2019, the most that can be contributed to your tradi- tional IRA generally is the smaller of the following amounts. • $6,000 ($7,000 if you are age 50 or older). • Your taxable compensation (defined earlier) for the year.
Publication 590-A (2019), Contributions to Individual Retirement Arrangements (IRAs) (IRS)
You cannot contribute more than you earned
The law ties the IRA contribution ceiling to the saver's taxable earnings for the year. Even if the general dollar limit is $6,000, or $7,000 with the $1,000 catch-up amount for those age 50 or older, the contribution cannot exceed the taxable compensation the individual actually received. Compensation is broadly defined as wages, salaries, tips, professional fees, bonuses, commissions, net self-employment earnings, taxable alimony received under pre-2019 divorce agreements, and nontaxable combat pay. Investment income, pension distributions, and deferred compensation do not count. The rule prevents people with little or no earned income from using IRAs primarily as tax-sheltered savings vehicles. If a taxpayer's compensation falls below the dollar ceiling, the contribution limit is reduced to that lower compensation figure.
For 2019, the most that can be contributed to your tradi- tional IRA generally is the smaller of the following amounts. • $6,000 ($7,000 if you are age 50 or older). • Your taxable compensation (defined earlier) for the year.
Publication 590-A (2019), Contributions to Individual Retirement Arrangements (IRAs) (IRS)
Why a workplace plan can take the deduction away
When a worker is covered by an employer retirement plan, the ability to deduct traditional IRA contributions phases out as modified adjusted gross income rises. The amount of any reduction in the deduction depends on whether the taxpayer or spouse was covered by a workplace plan and on filing status. The phaseout ranges are set in tables that specify income thresholds where the deduction begins to decrease and where it disappears entirely. Taxpayers who are not themselves covered but whose spouse is face different, typically higher, thresholds. The phaseout does not bar contributions altogether, but it turns part or all of the contribution into a nondeductible deposit.
Deduction Phaseout The amount of any reduction in the limit on your IRA de- duction (phaseout) depends on whether you or your spouse was covered by an employer retirement plan. Covered by a retirement plan. If you are covered by an employer retirement plan and you didn’t receive any social security retirement benefits, your IRA deduction may be reduced or eliminated depending on your filing status and modified AGI, as shown in Table 1-2.
Publication 590-A (2019), Contributions to Individual Retirement Arrangements (IRAs) (IRS)
How late you can still contribute for a year
Contributions for a tax year may be made any time from January 1 of that year through the regular due date of the federal income tax return for that year, typically April 15 of the following calendar year. Extensions of time to file the return do not extend the contribution period; the deadline remains the unextended due date. The rule gives taxpayers roughly three and a half months after the close of the year to finalize savings decisions, but contributions must be clearly designated for the intended year when made after December 31. Deposits received after the deadline are treated as contributions for the next tax year and may trigger the excess-contribution penalty if that year's limit has already been reached.
You can open a traditional IRA at any time. However, the time for making contributions for any year is limited. See When Can Contributions Be Made, later.
Publication 590-A (2019), Contributions to Individual Retirement Arrangements (IRAs) (IRS)
The 6% tax on contributing too much
If you contribute more than the annual limit to your IRA for 2019, the excess amount is subject to a 6% excise tax each year it remains in the account. For 2019, the limit is $6,000, plus an additional $1,000 if you are age 50 or older. You can avoid the 6% tax by withdrawing the excess contribution—and any earnings on it—before the due date of your tax return, including extensions (typically October 15 if you filed for an extension). If you withdraw the excess by that deadline, the IRS treats it as if it was never contributed, and you won't owe the tax. If you don't withdraw it in time, the 6% tax applies again each subsequent year until the excess is corrected. The tax is reported on Form 5329.
Excess Contributions Tax If any part of these contributions is an excess contribution for 2018, it is subject to a 6% excise tax. You won’t have to pay the 6% tax if any 2018 excess contribution was withdrawn by April 17, 2019 (plus extensions), and if any 2019 excess contribution is withdrawn by April 15, 2020 (plus extensions). See Excess Contributions under What Acts Result in Penalties or Additional Taxes, later.
Publication 590-A (2019), Contributions to Individual Retirement Arrangements (IRAs) (IRS)
How each figure was verified
Each number below was read from a stored copy of the document named beside it, and checked to occur word for word in the quoted sentence. The digest is of that stored text.
IR-2018-211 (IRS)
- Annual contribution limit
The deductible amount under Section 219(b)(5)(A) for an individual making qualified retirement contributions is increased from $5,500 to $6,000.
- Catch-up contribution limit, age 50 and over
The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000.