IRSAs a result of COVID-19, the Internal Revenue Service (IRS) has clarified that the deadline for making health savings account (HSA) and individual retirement account (IRA) contributions for the 2019 tax year has been extended to July 15, 2020. This matches the new deadline for filing and paying taxes for the 2019 tax year, pushed back from April 15, 2020.

As a reminder, the maximum amount an employee can contribute to an HSA is $3,500 for individual coverage or $7,000 for family coverage for 2019.

In order to meet the deadline, mailings must be postmarked by July 15, 2020. However, we encourage you to submit your filing as soon as possible.

You can view the full Filing and Payment Deadline Q&A at the IRS website.