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New Member
posted May 6, 2021 9:49:51 AM

Do I have until 5/17/2021 to contribute to an IRA for tax year 2020?

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3 Replies
Level 15
May 6, 2021 9:56:54 AM

Yes, assuming you otherwise qualify.

Expert Alumni
May 6, 2021 10:02:15 AM

Because the federal tax filing deadline has been extended to May 17, 2021, the deadline for making a 2020 IRA contribution is now also extended to May 17, 2021. 

 

-follow this link for additional information-

What The Coronavirus Relief and New Tax Deadline Mean for ...

Level 15
May 6, 2021 10:03:26 AM

Don't wait for the last day though.    Many financial institution  have rules that the posting date can be up to 3 business days after the contribution so if contributed on Fri, May 14, it might not get posted until Tue, May 18, making to a 2021 contribution.

 

Be sure to tell the financial institution which tax year it is for and get a receipt showing that year.