By Coby Culpepper, Executive Wealth Advisor | April 2, 2027 | 5 min read
Until April 15, 2027, you can still make 2026 contributions to a traditional or Roth IRA and to a health savings account (HSA), if you're eligible. For pre-retirees, the most valuable last-minute moves are often maxing out IRA catch-up contributions, funding a spousal IRA, choosing between traditional and Roth, and using an HSA as a tax-advantaged health care fund for retirement.
Most retirement deadlines land on December 31. A few important ones don't. IRA and HSA contributions for the prior year can be made right up until the tax-filing deadline, which gives you a second chance to reduce this year's tax bill or add to tax-advantaged savings.
| Account | 2026 Limit | Catch-Up |
|---|---|---|
| Traditional or Roth IRA | $7,500 | +$1,100 (age 50+) |
| HSA, self-only coverage | $4,400 | +$1,000 (age 55+) |
| HSA, family coverage | $8,750 | +$1,000 (age 55+) |
Important: IRA limits apply across all your traditional and Roth IRAs combined. When you contribute between January 1 and April 15, make sure your custodian records it as a contribution for the prior year if that's your intent.
If you're 50 or older, you can contribute an extra $1,100 to your IRA. Over the last ten years before retirement, catch-up contributions add up, especially if invested for growth.
If one spouse has little or no earned income, the working spouse's income can support an IRA contribution for both, as long as you file jointly and have enough combined earned income. A spousal IRA effectively doubles a couple's IRA savings. This is especially useful when one spouse has already retired or stepped back from work.
The decision between traditional and Roth contributions depends on your current tax situation, expected retirement tax bracket, and overall savings strategy.
Contributions may be deductible, lowering your taxable income now. If you or your spouse is covered by a workplace retirement plan, deductibility phases out at certain income levels. Withdrawals in retirement are taxed as ordinary income.
Contributions aren't deductible, but qualified withdrawals are tax-free, and Roth IRAs have no required minimum distributions for the original owner. Direct Roth contributions are limited at higher incomes.
If your income is too high for direct Roth contributions, a "backdoor" approach involves contributing to a nondeductible traditional IRA and then converting it to a Roth. The catch is the pro-rata rule: if you have other pre-tax IRA money, part of the conversion will be taxable based on the ratio of pre-tax to after-tax money across all your IRAs. Rolling pre-tax IRA money into an employer plan first, if the plan allows, can sometimes help. Get guidance before trying this.
If you had a high-deductible health plan in 2026, an HSA may be one of the most tax-efficient accounts available:
For pre-retirees, an HSA can be a dedicated health care fund for retirement. Many people pay current medical costs out of pocket and let the HSA grow. After 65, HSA money can be withdrawn for any purpose, taxed as income if not used for medical expenses, much like a traditional IRA.
Once you enroll in Medicare, you can no longer contribute to an HSA. And if you sign up for Medicare Part A after 65, coverage can be made retroactive for up to six months, which can make HSA contributions during that period excess contributions. If you're approaching 65 and still working, plan your HSA contributions around your Medicare enrollment date.
If you have self-employment income, including consulting after leaving a corporate job, a SEP IRA may allow larger contributions, and the deadline can extend to your tax-filing deadline including extensions.
If you received severance, vested equity, or did a Roth conversion last year, double-check that you've paid enough tax to avoid underpayment penalties.
Instead of rushing next April, consider setting up automatic monthly IRA contributions now. Spreading contributions across the year can make the full amount easier to fund. If you're within a few years of retirement, revisit whether traditional or Roth contributions fit your expected future tax bracket, especially if your savings are concentrated in tax-deferred accounts.
Generally April 15, 2027, the federal tax-filing deadline. Extensions to file do not extend the IRA contribution deadline.
$7,500, plus a $1,100 catch-up contribution for people 50 and older.
You need earned income, or a spouse with earned income if you file jointly, to contribute. Pension and Social Security income do not count as earned income.
No. Once you're enrolled in Medicare, you can no longer make HSA contributions, though you can still use existing HSA funds.
Excess contributions are generally subject to a 6% excise tax for each year they remain in the account. You can usually avoid the tax by withdrawing the excess and any earnings before your tax-filing deadline.
Have questions about how this applies to you? Book a 15-minute Check-Up with Coby. It's not a screening call and not a sales script. It's a short conversation about where you are today and whether a deeper planning meeting makes sense.
The commentary on this blog reflects the personal opinions, viewpoints and analyses of the author, and should not be regarded as a description of advisory services provided by Foundations Investment Advisors, LLC (“Foundations”), or performance returns of any Foundations client. The views reflected in the commentary are subject to change at any time without notice. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security, or any security. Foundations manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Foundations deems reliable any statistical data or information obtained from or prepared by third party sources that is included in any commentary, but in no way guarantees its accuracy or completeness.
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A Roth conversion may not be suitable for your situation. The primary goal in converting retirement assets into a Roth IRA is to reduce the future tax liability on the distributions you take in retirement, or on the distributions of your beneficiaries. The information provided is to help you determine whether or not a Roth IRA conversion may be appropriate for your particular circumstances. Please review your retirement savings, tax, and legacy planning strategies with your legal/tax advisor to be sure a Roth IRA conversion fits into your planning strategies.
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