Prior year contribution(s) into Acorns Later

Article author
Jennifer
  • Updated

This is provided for informational purposes only. Acorns does not provide tax or legal advice. You should consult with a tax or legal professional to address your particular situation.

You can make a prior year contribution from January 1 up to when you file your income taxes.

Wait. What’s a prior year contribution?

If you did not hit the maximum contribution for last year, the IRS lets you make a contribution this year (up until the tax deadline) and have it count toward last year’s contribution limit.

Be sure to talk to your CPA or tax professional or visit the IRS website to help determine if you qualify for a prior year contribution and if so, how you should report this information to the IRS.

If you would like to make a prior year contribution, visit the “Later starts today” screen in your mobile app, tap to make a One-Time contribution, and select the tax year you would like your contribution applied to using the “Tax Year” dropdown.

*If you encounter any issues making a prior year contribution, it is likely that it is past the tax filing deadline and you can no longer make a prior year contribution.

 

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