resources

  • Alert

2020 HSA, IRA Contribution Deadlines Extended

March 31, 2021 Alert

The deadline to make 2020 contributions into IRAs, HSAs and other qualified savings accounts has been extended to May 17, 2021.

Generic compliance alert image

AT A GLANCE

The deadline to make 2020 contributions into individual retirement arrangements (IRAs and Roth IRAs), health savings accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs), and Coverdell education savings accounts (Coverdell ESAs) has been extended to May 17, 2021.

Time to Make Contributions Extended

In extending the deadline to file Form 1040 series returns to May 17, the IRS is automatically postponing the deadline for individuals to make 2020 contributions to their individual retirement arrangements (IRAs and Roth IRAs), health savings accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs), and Coverdell education savings accounts (Coverdell ESAs). Contributions can now be made until May 17, 2021, per IRS Notice 2021-21.

Thank you for choosing Paylocity as your Payroll Tax and HCM partner. This information is provided as a courtesy, may change, and is not intended as legal or tax guidance. Employers with questions or concerns outside the scope of a Payroll Service Provider are encouraged to seek the advice of a qualified CPA, Tax Attorney or Advisor.

 


related