Need to Know: How the 2020 Tax Filing Extension Impacts Various Retirement Plan Contribution Deadlines, Apr. 8, 2021

The IRS extended the 2020 federal income tax filing deadline to May 17, 2021 for most individual taxpayers—an extension that also impacts a taxpayer's deadline for making a prior-year IRA contribution. Taxpayers are entitled to make prior-year retirement contributions to IRAs and Roth IRAs by the federal income tax filing deadline. Therefore, 2020 IRA and Roth IRA contributions are due by May 17, 2021 (for taxpayers with an extension to file beyond May 17, the deadline is not further extended). Self-employed taxpayers who contribute to a SEP IRA or SIMPLE plan could possibly have a different deadline. For more information on SEP vs. SIMPLE retirement plans, see Q 3711.