Kathleen Fouquet
Apr 4 2001, 02:03 PM
Education IRAs have a $500 contribution limit per year. Is April 15 the deadline to contribute for the prior year?
Appleby
Apr 4 2001, 02:13 PM
The deadline for making an IRA contribution to an education IRA for year 2000 was December 31 2000.
IRA custodians are required to issue the IRS Form 5498 for Education IRAs by Janaury 31 of the following year ( Unlike traditional and Roth IRA, where these forms are issued May 31).
This means that all contirbutions must be receievd by December 31, in order for the required reporting tobe done by the specified date