Empower Blog

February 14, 2023

IRA Deadlines are Approaching: What to Know

Financial Planning

Financially, many of us associate the spring with taxes – but we should also associate this time of year with important Individual Retirement Account (IRA) deadlines. Here’s what you need to know.

  • A person can now open or contribute to a Traditional IRA past the age 72 as long as they have taxable income.
  • April 18, 2023 is the deadline for making 2022 annual contributions to traditional IRAs, Roth IRAs, and certain other retirement accounts. April 15 falls on a Saturday, so the deadline has been extended.1
  • December 31, 2023 is the deadline to take your Required Minimum Distribution (RMD) from certain IRAs.

Some people may not realize when they can make their IRA contribution. You can make a yearly IRA contribution between January 1 of the current calendar year and April 15 of the next year. Accordingly, you can make your IRA contribution for 2023 any time from January 1, 2023, to April 15, 2024.1


If you are making a 2023 IRA contribution in early 2024, you must tell the investment company hosting the IRA account for which year you are contributing. If you fail to indicate the tax year that the contribution applies to, the custodian firm may make a default assumption that the contribution is for the current year (and note exactly that to the I.R.S.).


So, along with your account number, be sure to write “2024 IRA contribution” or “2023 IRA contribution,” as applicable, in the memo area of your check, plainly and simply. If you make your contribution electronically, double-check that these details are communicated.


Remember, this article is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax, legal, and accounting professionals for the most up-to-date information about IRA account deadlines and contribution strategies.

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About the Author
Chase Dalton

Wealth Management by CommunityAmerica

I am a team player that wants those around me to succeed – and I thoroughly enjoy explaining financial topics and helping members understand their entire financial picture. I attribute my passion for helping others succeed to the long line of business owners in my family who showed me where hard work can get you. This also gave me a strong passion for helping small businesses grow – which is something I hope to expand on as I further in my career.

“I strive to partner with members to help them map out all of the financial aspects of their life, allowing them to have more time to spend on their talents and passions.”

I received my bachelor's degree in Finance from Pittsburg State University, where I was a member of the Track & Field team competing in shot put and hammer events. I am currently pursuing my Master of Science in Finance through the University of Kansas City – Missouri.

When not in the office, I enjoy all things active – from golfing and snowboarding to dirt bikes and CrossFit. I am also very passionate about my church and Christian education, volunteering a lot of my time serving at Northland Christian High School.

Call today to set up a no-obligation conversation about your financial well-being.

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