What are the due dates for making contributions into the SIMPLE IRA?
There are actually 2 different due dates. The contributory portion of the SIMPLE IRA, which can be as much as $6,000 per year, MUST BE MADE PRIOR TO JANUARY 31ST OF THE SUBSEQUENT YEAR. The 3% matching contribution can be made as late as the due date of the tax return including extension. For most taxpayers, therefore, this means that this part of the contribution can be made as late as 4/15 of the following year. Please don’t miss this January 31st deadline. If you want to put the maximum amount away, you need to make sure to contribute the $6,000 on time. Most of the financial institutions were not accepting the SIMPLE IRA contributions if they were made subsequent to January 31st.
