How much can you contribute to a Roth IRA?

  • Quick summary: If you are under 50, you may contribute up to $6,000 in 2019; $5,500 for 2018. If you are 50 or over, you may contribute $7,000 ($6,500 for 2018). The amount you can contribute is based on income limits, however.

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

The contribution limits for Roth IRAs described below 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

Individuals who are under 50 years old may contribute $6,000 to an IRA in 2019 ($5,500 for 2018). This amount is the maximum you may deposit per year across all IRAs you may have with multiple providers, including both Traditional or Roth IRAs.

For example, you could contribute $3,000 to a Roth IRA with one provider and $3,000 with a second provider. You cannot contribute $6,000 to the first Roth IRA and $6,000 to the second provider. Your total 2019 contribution limit is $6,000 for all accounts for the tax year.

Roth IRA Contribution Limits for Individuals 50 or Older

For those age 50 or older, the same $6,000 contribution limit across all Roth IRAs is in place, starting in 2019. However, the IRS also allows these individuals to also contribute an additional $1,000 as “catch up” contributions. Although this allowance is provided to assist individuals who are behind in retirement savings, it is available to everyone age 50 or over who qualifies 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 no tax is charged to you for withdrawals you make in retirement.

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