IRA Contribution deadline- Fiscal year

[jane123]

If an individual files his return on a fiscal year- say June to May, does he have until September 15 to make his 2004 IRA contribution?

Thanks in advance

[mbozek]

yes but I have never heard of an individual filing on fiscal year because he would be required to maintain books and records of his personal accounts in order to file on a fiscal year basis.

[Gary Lesser]

Yes. IRC Section 219(f)(3).

(3) Time when contributions deemed made--For purposes of this section, a taxpayer shall be deemed to have made a contribution to an individual retirement plan on the last day of the preceding taxable year if the contribution is made on account of such taxable year and is made not later than the time prescribed by law for filing the return for such taxable year (not including extensions thereof).