PALM BAY, Fla., Oct. 27, 2026 —
We are not financial advisors; this is general information, not financial advice.
With about two months left in the year, many Florida families are checking how much room they have left in their tax-advantaged savings accounts. The IRS sets yearly limits for these accounts, and the 2026 figures are already official.
Workplace plans: 401(k), 403(b) and similar
For 2026, the IRS limits employee contributions ("elective deferrals") to $24,500, up from $23,500 in 2025. Workers 50 and older can add a catch-up contribution of $8,000.
There's a bigger catch-up for one age group. Under SECURE 2.0, employees who turn 60, 61, 62 or 63 during the year have a higher catch-up limit of $11,250 for 2026 instead of $8,000.
IRAs: traditional and Roth
For 2026, total contributions to all of a person's traditional and Roth IRAs can't be more than $7,500, or $8,600 if you're 50 or older, or your taxable compensation for the year if that's less. Roth IRA contributions can also be limited by filing status and income, the IRS notes.
A few more points from the IRS:
- There's no age limit. For 2020 and later, there is no age limit on regular contributions to traditional or Roth IRAs.
- A spouse without a paycheck may still be able to contribute. If you file a joint return, you may be able to contribute to an IRA even without taxable compensation, as long as your spouse had some. Each spouse can contribute up to the limit, but the combined total can't be more than the taxable compensation on the joint return.
- Too much costs money. Excess IRA contributions are taxed at 6% per year for each year the excess stays in the IRA.
Health savings accounts
If you have a qualifying high-deductible health plan, the IRS's 2026 HSA limit is $4,400 for self-only coverage and $8,750 for family coverage. The IRS says people age 55 or older at the end of the tax year can contribute $1,000 more, and that the limit is reduced by any contributions your employer makes that are excluded from your income.
Deadlines
- IRAs: the IRS says you can contribute for a year at any time during the year or by the filing due date for that year, not counting extensions. For most people, that meant April 15, 2026 for 2025 contributions.
- HSAs: in its 2025 guide, the IRS said you could make contributions for 2025 through April 15, 2026.
- Fixing an excess: to avoid the 6% tax on an excess IRA contribution, it must be withdrawn, along with any earnings on it, by the due date of your tax return, including extensions.
What about 2027?
The IRS's official limits table listed only 2026 and earlier years when we checked on Oct. 27, 2026. We have not seen official 2027 limits, so we are not reporting any.
Those are the facts, directly from the source.
Sources: IRS, COLA increases for dollar limitations; IRS, IRA contribution limits (updated Sept. 23, 2026); IRS Rev. Proc. 2025-19; IRS Publication 969 (2025); IRS Publication 590-A (2025). All pages checked Oct. 27, 2026.
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