Roth IRA Contribution Limits

How Much Can You Contribute to a Roth IRA?

  • Quick summary: If you are under 50, you may contribute up to $5,500 in 2015 and 2016. If you are over 50, you may contribute $6,500. These limits are based on income limits, however.

The Internal Revenue Service limits contributions to all retirement accounts including Roth IRAs.

The contribution limit for Roth IRAs are based on the assumption that you qualify to contribute to a Roth under the IRS income limits.

Roth IRA Contribution Limits for Individuals Under 50

For individuals that are under 50 years old the limit on contributions to a Roth IRA is $5,500. This amount is the total that can be contributed per year across all IRAs you may have with multiple providers (these limits are the max you can contribute across all IRAs, including both Traditional or Roth IRAs).

For example, you could contribute $2,500 to a Roth IRA with one provider and $3,000 with a second provider. You cannot contribute $5,500 to the first Roth IRA and $5,500 to the second provider. Your total contribution limit is $5,500 for all accounts for the tax year.

Roth IRA Contribution Limits for Individuals 50 or Older

For individuals that are age 50 or older the same $5,500 contribution limit across all Roth IRAs is in place. However, the IRS also allows these individuals to also contribute an additional $1,000 as "catch up" contributions. This allowance is provided to assist individuals that are behind in retirement saving, but is available to all individuals over age 50 that qualify for a Roth IRA.

Additional Roth IRA Contribution Information

Individuals may contribute money to a Roth IRA from January 1 of the current tax year to April 15 of the following tax year. Contributions are made with post-tax dollars. You pay tax today so that in retirement no tax is charged to you in retirement.

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Important Roth Information

Each year, the IRS updates the rules for Roth IRA. Here are all the details for 2015 along with updates for 2016: