The deadline for SIMPLE contributions is the tax filing deadline of the company, including extensions. For a previous year contribution, the SIMPLE plan must have been established by October 1 of the year for which the contribution is being made. For Agents and Brokers | Insurance Forums | About Us | Privacy/Legal | Contact Us | Site Map | Site Menu

The final deadline for making prior year IRA contributions is typically April 15. For example, a contribution for tax year 2007 may be made up until April 15, 2008.

You can establish a SEP for a year as late as the due date (including extensions) of your company’s income tax return for that year. You can establish a SIMPLE-IRA plan effective on any date between January 1 and October 1 of the year for which you make your first contribution. However, if you previously maintained a SIMPLE-IRA plan, you can set up a SIMPLE-IRA plan effective only on January 1 of the year for which you make your first contribution.

Yes. A small business owner who elects to open an Individual 401(k) plan may also contribute the maximum dollar amount allowable under current law to an IRA or Roth IRA. However, contributions may not be deductible.

Yes. Starting in 2002, you may put after-tax contributions from a qualified retirement plan into a Traditional IRA. Yes, but only if you deposit the check into an IRA Rollover within 60 days along with the 20 percent your employer withheld. If you do not make up the 20 percent, this amount will be considered a distribution and taxed as ordinary income. It could also be subject to a 10-percent early withdrawal penalty.

Salary deferral contributions may be made up to 100% of compensation (not to exceed $10,000 for 2006 and $10,500 for 2007 for investors under age 50, $12,500 for 2006 and $13,000 for 2007 for investors age 50 and over). Match employee contributions dollar for dollar up to 3% of compensation to a maximum $10,000 for the 2006 plan year and $10,500 for the 2007 plan year, $12,500 for investors 50 years old or older in 2006 and $13,000 in 2007.

Employers having 100 employees or less and who do not maintain another retirement plan are eligible to establish a SIMPLE IRA. For more information on "eligible employees", reference IRS Publication 590 or IRS Publication 560.

For the Traditional and Roth IRAs and the CESAs, the contributions can be made up to the tax-filing deadline, generally April 15th. So even if your income is indefinite, you can still contribute up through tax deadline the following year. Telhio offers both free payroll deduction and direct deposit services to make contributing to your IRA on a regular basis easy and hassle-free.

IRAs for a taxable year can be opened and funded any time between the first day of a tax year and the date a tax return is due for that year, excluding extensions. For most taxpayers, this due date is April 15 of the following year.

You may open or contribute to your IRA for a year at any time during the year. You may open or contribute to an IRA for the previous year at any time prior to the due date (not including extensions) for filing your tax return for the previous year. For most people, this means that contributions for 2006 must be made by April 15, 2007.

No. SEP contributions can be made to Traditional IRAs only. While it is possible to convert a Traditional IRA containing SEP contributions to a Roth IRA, subsequent SEP contributions must be made to a Traditional IRA.

If you are single and have compensation from employment or earned income from self-employment and your modified adjusted gross income (MAGI) is less than $95,000, you can make the maximum annual contribution, regardless of your age; if your MAGI is more than $95,000 but less than $110,000, you can make a partial contribution.

No, but the employee participant may convert the SEP IRA into a Roth and pay the tax due on the conversion.

Yes. You can make contributions to your Rollover IRA. Please be aware that if you do make additional contributions, you may forfeit your opportunity to roll over your retirement savings into a new employer-sponsored retirement plan as different plans determine which assets, if any, it will accept. You should check with your new employer regarding their plan-specific rules. Maybe.

The deadline for employer SEP contributions is the tax filing deadline of the company, including extensions.

The basic investment vehicle for each of these plans is an IRA, and the investment restrictions apply equally to all types of IRAs.

Your SIMPLE-IRA account may buy or exchange any fund as long as the minimum initial and subsequent investment limits are met. To be eligible for ongoing SIMPLE-IRA salary deferrals or employer contributions, however, a fund must waive the investment minimums for SIMPLE-IRA customers. See a list of eligible Fidelity Funds and no load and no transaction fee funds from other well known fund companies.

New legislation allows you to transfer your rollover IRA balance into your new plan, as long as the new plan accepts rollovers from IRAs. Before rolling your money into a new plan, you should compare the plan's investment options and withdrawal rules with those of your IRA. You may give up some flexibility or face stricter requirements if you make the move.

Yes, but the total combined contribution for the year may not exceed the maximum contribution described above. You must decide whether it is better to make a contribution to a traditional IRA, which might give you an immediate tax deduction, or contribute to a Roth IRA where you forgo the deduction but have the possibility of long-term growth that may later go untaxed.