The deadline for making 2024 IRA contributions is Tuesday, April 15, 2025. However, residents of Maine and Massachusetts have until April 17, 2025, due to the Patriot’s Day and Emancipation Day holidays.
Key Notes:
- IRAs must be opened by the contribution deadline—accounts opened after the deadline cannot receive PYC contributions.
- Contributions received after April 15 must have proof (e.g., postmark or overnight receipt) showing they were sent by the deadline.
- Use Mobile Check Deposit! Using MCD eliminates the need to provide postmark or overnight receipts.
- Contributions without valid documentation will be coded as current year (CYC) or returned as not in good order (NIGO).
- Certain disaster-affected areas have extended deadlines. These contributions should be reported as postponed, not as PYCs.
- SEP IRA contributions follow a separate deadline based on the employer’s tax filing due date (including extensions).
Submission Tips:
- Use Mobile Check Deposit! Using MCD eliminates the need to provide postmark or overnight receipts.
- Do not use metered mail, business reply envelopes, or bill pay checks when mailing close to the deadline.
- For checks, ensure the postmark is dated on or before April 15.
Please contact the Brokerage or Illuminations service desk with any questions.
TC7807622(0425)1
