Contributions to Traditional and Roth IRAs

You can contribute to a Traditional or Roth IRA if you have earned income or if you file your taxes jointly with a spouse who has earned income. In addition, you must be younger than age 70 ½ to contribute to a Traditional IRA. Contributions have an annual limit and may not exceed your yearly earned income.

Contribution Limits


Rollover and Direct Transfer Contributions

  • No limit to dollar amount of transfers
  • No fee to accept transfers into an Elevations IRA
  • Transfer your 401(k) from a previous employer
  • Transfer your IRA from another financial institution