2022 IRA contribution limits: $6,000 under 50, $7,000 with catch-up
2022 was the fourth consecutive year at the $6,000 base limit. The real story was legislative. The retirement-account restrictions in Build Back Better were dropped from the Inflation Reduction Act in August. Then on the last working day of the year, SECURE 2.0 cleared Congress with a sweeping package of Roth expansions, RMD age delays, and a high-earner catch-up rule that would later be deferred.
2022 limits at a glance
$6,000
per year, all IRAs combined
$7,000
$6,000 base + $1,000 catch-up
18 April 2023
15 April fell on Emancipation Day weekend
Source: IRS Notice 2021-61 and Rev. Proc. 2021-45, the 2022 cost-of-living adjustments.
2022 Roth IRA income phase-outs
| Filing status | Full contribution if MAGI below | Phase-out range | No contribution above |
|---|---|---|---|
| Single / Head of household | $129,000 | $129K to $144K | $144,000 |
| Married filing jointly | $204,000 | $204K to $214K | $214,000 |
| Married filing separately | $0 | $0 to $10K | $10,000 |
Phase-out floors jumped roughly $4,000 (single) and $6,000 (MFJ) from 2021, the largest inflation-driven adjustments since the 2008 financial crisis. The August 2021 CPI print of 5.3% fed into these numbers.
Build Back Better dies, Inflation Reduction Act ignores IRAs
The Build Back Better Act, passed by the House in November 2021, would have ended the backdoor Roth IRA, ended the mega backdoor Roth via 401(k) after-tax contributions, capped IRA balances at $10 million for high earners, and forced accelerated distributions above that cap. Senator Joe Manchin's December 2021 statement that he would not support the bill effectively killed the original package.
The successor that did become law, the Inflation Reduction Act of 2022 (H.R. 5376), signed on 16 August 2022, dropped the IRA provisions entirely. The IRA portions of the bill focused on Medicare drug pricing, an electric vehicle tax credit, a 15% corporate minimum tax, and IRS enforcement funding. The backdoor Roth, the mega backdoor Roth, and uncapped IRA balances all stayed legal. In 2026 they still are.
For 2022 tax-year planning this mattered most for the "run before they slam the door" behaviour seen in late 2021. Filers who accelerated conversions in 2021 to lock in backdoor activity before a 2022 cutoff that never came have nothing to regret: the math of an early conversion still works because of the extra year of tax-free growth. Filers who delayed Roth conversion plans in 2022 waiting to see what would happen missed a year of strategic conversion at depressed valuations in the H2 2022 market.
SECURE 2.0 passes 29 December 2022
On 29 December 2022, President Biden signed the Consolidated Appropriations Act of 2023, which contained Division T: the SECURE 2.0 Act of 2022. SECURE 2.0 is the most consequential retirement-account legislation since the original SECURE Act of 2019. Its provisions affecting Roth and Traditional IRAs phased in starting 2023.
Headline 2022-passed changes that mattered for IRAs: RMD age moved from 72 to 73 starting 2023 (§107). RMDs eliminated from designated Roth accounts in 401(k) and 403(b) plans starting 2024 (§325). SEP-IRA and SIMPLE IRA Roth contributions permitted starting 2023 (§601). 529-to-Roth IRA rollover allowed starting 2024 (§126, $35K lifetime cap). Catch-up contributions for high earners required to be Roth starting 2024 (§603, later deferred to 2026 by IRS Notice 2023-62).
None of these changes affected the 2022 contribution limit itself. They reset the landscape for 2023 onward. Anyone reading historical limits to make a 2022 prior-year contribution before the 18 April 2023 deadline was operating under pre-SECURE-2.0 rules.
What changed from 2021
- Base and catch-up limits unchanged ($6,000 + $1,000). Fourth consecutive year.
- Roth phase-outs nudged up: single from $125K-$140K to $129K-$144K, MFJ from $198K-$208K to $204K-$214K.
- Traditional deduction phase-out for active participants in workplace plans: single $68K-$78K (vs $66K-$76K in 2021), MFJ $109K-$129K (vs $105K-$125K).
- Build Back Better restrictions on backdoor Roth were dropped from the Inflation Reduction Act.
- SECURE 2.0 signed 29 December 2022, with most provisions effective 2023 onward.
- Deadline was 18 April 2023 because 15 April fell on the DC Emancipation Day weekend.
The 2022 market context
The S&P 500 finished 2022 down roughly 18% on a total-return basis. The Bloomberg US Aggregate Bond Index lost about 13%, its worst calendar year in modern records. A traditional 60/40 portfolio lost roughly 16%. This was the worst combined stock and bond year since the index started.
For Roth conversions specifically, 2022 was an excellent year to convert pre-tax IRA balances. A $100,000 Traditional IRA position that had dropped to $82,000 by October could be converted at an $82,000 tax bill instead of $100,000, then recover inside the Roth wrapper tax-free. The IRS Statistics of Income data for 2022 (released in 2024) showed conversion volume up versus 2021 despite the lack of any legislative pressure to act. Strategic conversions during drawdowns are one of the most reliable Roth-tilt opportunities, and 2022 was the largest such opportunity since March 2020.
For contributions specifically, anyone who maxed a 2022 Roth on 1 January 2022 at the S&P's all-time high then watched it fall is now sitting on roughly 18 months of recovery and three more years of compounding by mid-2026. The market hit a new all-time high in early 2024. The 2022 vintage of Roth contributions has done fine on a long-horizon basis.
FAQ
What were the 2022 IRA contribution limits?
$6,000 under 50 and $7,000 with the $1,000 catch-up if 50 or older. Same as 2019, 2020, and 2021. Combined across all of your IRAs.
Did the Inflation Reduction Act change IRA rules?
No. The IRA portions focused on Medicare drug pricing, EV credits, the 15% corporate minimum tax, and IRS enforcement funding. The retirement-account restrictions that had been in Build Back Better were dropped.
When did SECURE 2.0 pass?
29 December 2022. It was tucked into the Consolidated Appropriations Act of 2023 as Division T. Most provisions phased in starting 2023, with key changes in 2024, 2025, and 2026.
Is the backdoor Roth still legal after 2022?
Yes. Build Back Better would have killed it. The Inflation Reduction Act did not. As of the 2026 tax year, the backdoor Roth and the mega backdoor Roth remain legal.
When was the 2022 IRA contribution deadline?
18 April 2023, because the normal 15 April deadline fell on the Friday of Emancipation Day weekend in Washington DC. That deadline has passed.
Can I still amend a 2022 contribution?
The general statute of limitations on IRS amended returns is three years from the original due date. For tax year 2022, that closed 18 April 2026. Amendments are no longer accepted in most cases.
Not financial, tax, or legal advice. Figures sourced from IRS Notice 2021-61, Rev. Proc. 2021-45, H.R. 5376 (Inflation Reduction Act of 2022, signed 16 August 2022), and the SECURE 2.0 Act of 2022 (Division T of the Consolidated Appropriations Act of 2023, signed 29 December 2022). Tax laws change. Consult a fiduciary financial advisor, CPA, or qualified retirement planner. The 2022 tax year is closed.