If I did not max out my 2006 401K contributions, is there a provision with the IRS to add money to the 401K for last year prior to filing my taxes?

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Originally Posted by ajrohde

If I did not max out my 2006 401K contributions, is there a provision with the IRS to add money to the 401K for last year prior to filing my taxes?

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HI. In my experience (I handle our 401k plan at work), there is no way to go back and add to your plan after the end of the year. I believe the only way to increase your retirement contribution for last year is through an IRA contribution. You have until April 17 of this year to contribute towards last year. (However, the portion that is tax deductible will depend on many factors.) Maybe you should ask your employer if their plan allows for any additional contributiosn towards last year... but I wouldn't get my hopes up. (Hope this helped.)

Once 31 Dec 2006 came and went, you cannot contribute retroactive to the 401K.