Deadline for Making 2019 IRA Contributions (both Roth and Traditional) Extended to July 15, 2020

Normally, the deadline to make regular Traditional and Roth IRA contributions is by the IRA owner’s federal tax return due date (April 15).

As a result of the  Treasury Department and Internal Revenue Service extending the 2019 tax filing deadline for 2019 to July 15, 2020, both Traditional and Roth IRA contributions for 2019 may also be made by July 15, 2020. State income taxes will still need to be filed and paid by the normal deadline.

IRA owners can file their tax returns before making Traditional and Roth IRA contributions, as long as they make those contributions by the tax filing deadline, excluding extensions. For instance, an individual who filed his 2019 tax return on April 1, 2020, could still make a 2019 contribution after that, up until July 15, 2020.

This is an automatic extension, so no phone call to the IRS or filing of forms is required.

Regardless of the amount owed, federal income tax payments due on April 15, 2020 have also been deferred to July 15, 2020.

Click here to vie the IRS Coronavirus tax relief page.

This extension to make the 2019 solo 401k annual contribution by July 15, 2020 also applies to certain solo 401k plans. VISIT HERE to learn more  and visit IRS Notice 2020-18

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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