For 2026 you can put $7,500 into IRAs ($8,600 if you are 50 or older) and $24,500 into a 401(k), plus catch-up money if you qualify. The IRA limit covers traditional and Roth accounts combined, and the 401(k) limit is separate.
The IRS sets a catch-up of $8,000 at 50 and over, and a higher $11,250 for ages 60 to 63 if the plan permits it. IRA contributions for a year can be made until the tax filing due date, so contributions for 2025 must be made by April 15, 2026. An excess IRA contribution faces a 6% tax unless you withdraw it by the return due date. This guide summarizes IRS pages read on 20 October 2026; it is general information, and limits change every year.
The short answer: 2026 limits
| Account | 2026 limit | Catch-up (age 50+) |
|---|---|---|
| IRA (traditional + Roth combined) | $7,500 | $8,600 total |
| 401(k) employee deferral | $24,500 | $8,000 (ages 60-63: $11,250) |
| SIMPLE 401(k) | $17,000 | $4,000 |
How much can I save in total?
The two limits stack because they sit in different accounts. A 45-year-old with a 401(k) and an IRA can save up to $32,000 ($24,500 plus $7,500). At 55 with plan catch-ups, the total is $41,100: $32,500 in the 401(k) plus $8,600 in IRAs. At 61, a plan that allows the higher catch-up lets you defer $35,750. Add the $8,600 IRA limit and the ceiling is $44,350.
Compared with 2025, the 401(k) deferral limit rose $1,000, from $23,500 to $24,500, and the IRA limit rose $500, from $7,000 to $7,500.
What are the 2026 IRA contribution limits?
The IRS says the limit is for traditional and Roth IRAs combined: $7,500 under age 50 and $8,600 at 50 or older for 2026, compared with $7,000 and $8,000 for 2025 (and 2024). Contributions are also capped at your taxable compensation for the year, whichever is less, and rollover contributions are excluded from the limit.
The IRS page gives two examples (using 2020 figures). A student who earned $3,500 can contribute only $3,500. A non-working spouse aged 50 can contribute $7,000 including a $1,000 catch-up, based on the other spouse’s compensation. On a joint return, a spouse with no taxable compensation can still contribute, but combined contributions cannot exceed the joint taxable compensation.
What is the deadline to contribute?
IRS Publication 590-A says contributions for a year can be made at any time during the year or by the due date for filing that year’s return, not including extensions; “contributions for 2025 must be made by April 15, 2026.” The same rule applies to 2026 contributions and the 2026 return. For 2020 and later there is no age limit on regular contributions.
If you contribute too much, the IRS says there is a 6% tax on the excess unless you withdraw it by the due date of your return, including extensions. Withdraw the excess with its earnings. The tax is charged for each year the excess stays in the account, and it cannot exceed 6% of the combined value of all your IRAs at year-end.
Roth or traditional: what does the IRS say differs?
| Roth IRA | Traditional IRA | |
|---|---|---|
| Deduction | “You cannot deduct contributions to a Roth IRA” | May be deductible depending on income and workplace plan coverage |
| Withdrawals | Qualified distributions are tax-free if you meet the requirements | Earnings generally aren’t taxed until distribution |
| Age rules | You can leave amounts in as long as you live; contributions allowed after 70½ | Required minimum distributions apply (the IRS pages checked say age 73) |
The same combined limit applies to all of your Roth and traditional IRAs, and the RMD rules do not apply to Roth IRAs while the owner is alive. The penalty for missing an RMD is 25% of the shortfall, reduced to 10% if corrected within two years. Every IRS page checked here says age 73. Some people born in 1960 or later fall under the SECURE 2.0 age-75 rule, so confirm your birth-year rule with the IRS before relying on either.
What are the income limits for 2026?
| Filing status | Roth IRA phase-out |
|---|---|
| Single or head of household | $153,000 to $168,000 |
| Married filing jointly | $242,000 to $252,000 |
| Married filing separately | $0 to $10,000 |
| Traditional IRA deduction (covered by a workplace plan) | Phase-out |
|---|---|
| Single | $81,000 to $91,000 |
| Married filing jointly, contributor covered | $129,000 to $149,000 |
| Married filing jointly, only spouse covered | $242,000 to $252,000 |
| Married filing separately | $0 to $10,000 |
How to read these: below the range you get the full amount, inside it a reduced amount, and above it none. A single filer at $160,500 sits halfway through the Roth range, so expect a reduced limit, not zero. A single filer above $168,000 cannot contribute directly to a Roth IRA.
What is the 2026 401(k) limit?
The IRS says the 2026 employee deferral limit is $24,500, up from $23,500 in 2025. The catch-up for age 50 and over is $8,000, with a higher $11,250 for ages 60 to 63, and the plan must permit catch-ups. For a SIMPLE 401(k) the limit is $17,000 with a $4,000 catch-up.
Is there a tax credit for saving?
The IRS Saver’s Credit is worth 50%, 20%, 10% or 0% of contributions depending on adjusted gross income. You must be 18 or older, not claimed as a dependent and not a student. The maximum creditable contribution is $2,000 ($4,000 joint). The IRS page shows only 2024 income limits and defers 2026 figures to the Form 8880 instructions, so check there for current cutoffs. For withdrawals and rollovers see IRA rollovers and early withdrawals.
What mistakes should I avoid?
- Counting Roth and traditional IRAs separately. The $7,500 covers both.
- Contributing more than your taxable compensation.
- Missing the filing due date for last year’s IRA contribution.
- Assuming catch-up applies to every 401(k). The plan must permit it.
- Leaving an excess in the account. Withdraw it with earnings by the return due date.
Questions and answers about retirement contribution limits
Can I contribute to both a Roth and traditional IRA?
Yes, but the IRS limit is combined across all your IRAs: $7,500, or $8,600 at 50 or older.
When is the last day to contribute for the prior year?
The filing due date without extensions: April 15, 2026 for 2025 contributions.
Can I contribute to a 401(k) and an IRA in the same year?
Yes. The $24,500 deferral limit and the $7,500 IRA limit are separate, though your income can limit the Roth or the deduction.
What is the 401(k) catch-up at 62?
$11,250, because ages 60 to 63 get the higher catch-up, if your plan permits catch-ups.
What happens if I over-contribute to my IRA?
A 6% tax applies each year the excess stays, unless you withdraw it and its earnings by your return’s due date, including extensions.
Can a non-working spouse have an IRA?
Yes. On a joint return, a spouse with no taxable compensation can contribute up to the limit, based on the couple’s joint compensation.
Sources
- IRS: IRA contribution limits
- IRS: Publication 590-A
- IRS: Roth IRAs
- IRS: 401(k) and IRA limits for 2026
- IRS: 401(k) contribution limits
- IRS: Saver’s Credit
- IRS: required minimum distributions
Facts last checked on 20 October 2026. Limits change each year. This is general information, not tax advice.
