Individuals may make a contribution to Traditional or Roth IRA for the 2007 tax year up until their tax return due date, not including extensions.
Individuals age 50 and older may make an annual catch-up contribution of $1,000 in 2007.
| Tax Year | Maximum Annual IRA Contribution | Catch-up Contribution |
| 2007 | $4,000 | $1,000 |
| 2008 | $5,000 | $1,000 |
| 2009-Indefinitely | Adjusted for inflation | $1,000 |
*Roth IRA contributions are subject to income limits - $95,000 single filer and $150,000 married couples.