What is the minimum and maximum contribution amount per account?

The minimum initial contribution to open an iTrustCapital account is $1,000. The maximum annual contribution is based on IRS limitations. There is no maximum amount for IRA transfers or qualified plan rollovers. Each additional cash contribution has a minimum of $500. 

If you are eligible to contribute, the annual limit for Traditional and Roth IRAs in 2024 is $7,000 if you are under the age of 50 or $8,000 if you are over 50. You have until April 15th, 2025 to make your contributions for the tax year 2024. Contributions for the tax year 2025 can be submitted as early as January 1st, 2025. The annual limit for Traditional and Roth IRAs in 2025 are the same. $7,000 if you are under the age of 50 or $8,000 if you are over 50. 

Contribution limits for SEP IRAs differ. You can contribute up to the lesser of $69,000 or 25% of your total annual compensation for 2024, and $70,000 for 2025. It is recommended to speak with your tax advisor to determine your SEP IRA contribution limits.

For those with an Inherited IRA account, you may not make annual contributions per IRS guidelines. 

For more information, please visit the IRS website.