What Is the Deadline for Opening an IRA Account?

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The deadline for opening an individual retirement account (IRA) depends on which type you have. In most cases, you can open an IRA and make contributions after the calendar year ends, but before your tax filing deadline.


To open and contribute to a SEP IRA, you have until your filing deadline, including extensions. For instance, if you wanted to make a SEP IRA contribution for 2010, you would have until April 15, 2011, to do so. If you filed an extension, you would have until the extension deadline to make a 2010 SEP IRA contribution.

Roth And Traditional IRAs

You can open a Roth or traditional IRA at any time, but you have until the April 15 income tax filing deadline to make contributions for the previous year. To apply a traditional or Roth IRA contribution to your 2010 tax return, you must deposit the money in your account by April 15, 2011. Unlike a SEP IRA, you cannot wait for your extension deadline, should you file for one.


If you didn't make the maximum contribution to your traditional or Roth IRA before filing your tax return, you still have until April 15 to contribute more money to your IRA and file an amended return.


SIMPLE IRAs are established by employers, not individuals. Employers have until Oct. 1 to set up a SIMPLE IRA plan for their employees, but have until their tax filing deadline to deposit their share of the contributions.