Contributions restricted?

[SMB]

I seem to recollect that contributions may no longer be made to an IRA after an individual has attainted age 70.5. Correct - or no?

What about SAR SEPs and SEP IRAs?

Also, I am fairly sure that's NOT the case with qualified plans.

Thanks!

[Bird]

IRA - no.

SEP - yes. IRS article

SIMPLE - yes. IRS article

[GMK]

Traditional IRA - contributions for the year you attain 70.5 and later are excess contributions (and must be removed or you pay a penalty).

Roth IRA - no age limit on contributions

For example, see:

http://www.investopedia.com/articles/retir...t/05/021505.asp

[SMB]

Bird & GMK,

Thanks - most helpful!

SmB