What's a qualified retirement plan?
A qualified retirement plan is an employer's plan to benefit employees within specific Internal Revenue Code requirements. These plans may qualify for special tax benefits, such as tax deferral for company contributions and your contributions.
Qualified retirement plans can include:
401(k) plans, including single participant or solo plans for sole proprietors
403(b) tax-sheltered annuity plans for employees of public schools or tax-exempt organizations
An individual retirement account under section 408(a) or an individual retirement annuity under section 408(b) (known as an IRA)
To determine whether your plan is a qualified plan (most but not all plans are), check with your employer or the plan administrator.
Tip: You can contribute to your retirement account (Traditional and Roth IRAs) for last year, up until April 15, 2026 (no extensions), even if you file earlier. For business retirement plans (SEP-IRA, SIMPLE IRAs, and Solo 401(K)), contributions must be made by the return due date (including extensions).
