Spousal IRAs

If your Spouse currently has an IRA with us, you may use the Contribution Form (PDF) to remit your Spousal IRA Contribution.

The same features and benefits of Traditional and/or Roth IRAs apply to Spousal IRAs.

A Spousal IRA is not a special type of IRA, simply a way in which to refer to the contributions being made by one spouse on behalf of a non-working spouse or, a one with little taxable income.

In order to qualify to make a Spousal IRA contribution, you must meet the following criteria:

You must be married on the last day of the tax year, filing a joint tax return.  In addition, the contributing spouse must have a higher taxable income than the spouse for whom a contribution is being made.  Spousal Contributions must be made into the IRA account of the spouse, you may not make a spousal contribution into your own IRA.

The spouse receiving the contribution must be less than age 70½ at the end of the year for which the contribution is being made, regardless the age of the contributing spouse.  In other words, the contributing spouse may be older than age 70½ as long as the spouse is not. 

For Traditional IRA Spousal Contributions:

As long as the spouse receiving the Spousal IRA contribution is not eligible to participate in an employer-sponsored plan, that spouse may use the higher deductibility limits, regardless of whether the working spouse participates in an employer-sponsored plan (see Traditional IRAs).  

For Roth IRA Spousal Contributions:

The same phase out limits for Roth IRAs apply to ROTH Spousal Contributions.

Inherited IRAs →