Ways to Fund an IRA Type of Contribution Dollar Limit Special Rules Calendar Year Funding Deadlines   Traditional/Roth   2002-2004: $3,000 2005-2007: $4,000 2008 and thereafter: $5,000 (indexed beginning in 2009)   Total may not exceed the lesser of the "Dollar Limits" as shown or 100% or earned income.   By April 15th of the following calendar year.   Traditional/Roth Catch-up Contributions   2002-2005: $500 2006 and thereafter: $1,000   Traditional IRA holders age 50 up to age 70 1/2 and Roth IRA holders age 50 and older may contribute an amount in excess of the basic annual contribution. (Also available for Spousal cont.)   By April 15th of the following calendar year.   Spousal   2002-2004: $3,000 2005-2007: $4,000 2008 and thereafter: $5,000 (indexed beginning in 2009)   Total in both spouses' IRA's must not exceed the "Dollar Limits" as shown.   By April 15th of the following calendar year.   Rollover   Unlimited   Funds must be rolled within 60 days of receipt. Only one rollover distribution per IRA every 12 months.   NONE   Transfer   Unlimited   Check made payable to new trustee or custodian.   NONE   Transfer Due to Divorce   Unlimited   Only through court order IRC Sec. (408(d)(6)).   NONE   Simplified Employee Pension(SEP)   $40,000   Employer adopts SEP. 25% of eligible employee's compensation or $40,000, whichever is less.   By the employer's tax filing due date (plus extensions.)   Education IRA   $2,000   The beneficiary's total may not exceed $2,000 from all sources.   By April 15th of the following calendar year. Note: A Traditional IRA(contributory) can receive contributions based on compensation from both employer and SEP contributions. (Must be separate share certificates.)