For 2015 and 2016, your total contributions to all your traditional and Roth IRAs cannot be more than:
- $5,500 ($6,500 if you’re age 50 or older), Or
- Your taxable compensation for the year, if your compensation was less than this dollar limit.
These amounts can change annually, so please check with the Bank for updated information about future years.
Posted in: IRA Account FAQs