You Asked Us - Roth Vs Traditional IRA

Q: April 15, 2007 falls on a weekend. What is the deadline to make my IRA contribution for 2006 ?

A: Where the deadline for making an IRA contribution falls on a public holiday or weekend, the deadline is extended to the next business day. Your contribution for 2006 must be made by April 17. Ordinarily it would have been April 16, but the IRS extended the deadline by one day this year because Emancipation day falls on April 16. The postmark rule applies, which means that if your contribution is mailed (using an eligible mail service such as the US post office) by April 17, you have met the deadline, even if your financial institution receives it after the deadline.

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