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EQUI-PATH 403(b) Mutual Fund

It's January, and I forgot to contribute to my IRA. Is it too late?

Answer:

No. Generally speaking, the IRS allows you to make your IRA contribution for a particular tax year up until April 15 of the following year. This rule applies to both traditional IRAs and Roth IRAs, giving you some flexibility in terms of the timing of your annual IRA contribution. You can contribute a total of $5,500 to all the IRAs you own in 2016 (unchanged from 2015). In addition, if you're age 50 or older, you can make an extra "catch-up" contribution of $1,000 a year in 2015 and 2016.

Note that you can make your annual IRA contribution in a series of payments rather than in one lump sum. For example, let's say you want to invest the maximum amount in your IRA for 2016. You can either make a lump-sum contribution of $5,500, or you can set up a savings plan whereby you invest a fixed amount each month in your IRA. Because you're allowed to spread your 2016 IRA contribution over a 15½-month period (January 1, 2016 through April 15, 2017), you can invest as little as $354.83 per month and still end up contributing the full $5,500.

Information provided has been prepared from sources and data we believe to be accurate, but we make no representation as to its accuracy or completeness. Data and information is not intended for solicitation or trading purposes. Please consult your tax and legal advisors regarding your individual situation. Neither AXA Equitable nor any of the data provided by AXA Equitable or its content providers, such as Broadridge Investor Communication Solutions, Inc., shall be liable for any errors or delays in the content, or for the actions taken in reliance therein. By accessing the AXA Equitable website, a user agrees to abide by the terms and conditions of the site including not redistributing the information found therein.

Please be advised that this materials is not intended as legal or tax advice. Accordingly, any tax information provided in this material is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. The tax information was written to support the promotion or marketing of the transactions(s) or matter(s) addressed and you should seek advice based on your particular circumstances from an independent advisor.

AXA Equitable Life Insurance Company (NY, NY). Securities are offered through AXA Advisors, LLC, NY, NY 212-314-4600 (member FINRA / SIPC). AXA Equitable and AXA Advisors are affiliated companies, do not provide legal or tax advice and are not affiliated with Broadridge Investor Communication Solutions, Inc.

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