You can request to change the year your Traditional or Roth IRA contribution is counted toward if you made an error when selecting the tax year. This guide explains when and how to request a contribution year change at M1, deadlines to know, what information you’ll need, and answers to common questions.
When can you change an IRA contribution year?
When contributing to a Traditional or Roth IRA, you can often specify whether your deposit will count for the current or the prior tax year. This flexibility is available during the following periods:
Date of Contribution | Contribution Year Option |
January 1 – Filing Deadline | Current Year or Prior Year |
Day After Filing Deadline – December 31 | Current Year |
Note: SEP IRA contributions are ineligible for contribution year changes. Contributions to SEP IRAs will always be reported on Form 5498 for the tax year in which they are made.
Why request a contribution year change?
You may wish to request a contribution year change if:
You accidentally selected the wrong tax year when making your deposit.
You have reached your annual contribution limit for one year but have capacity in another year.
Tax reporting considerations
Changing the contribution year is not a taxable event.
You will receive IRS Form 5498 for each tax year a contribution is made. If you have already received Form 5498 and your contribution year is changed after that, an updated Form 5498 will be issued.
M1 does not provide tax advice. Consult a qualified tax professional for questions regarding potential impacts.
Important deadlines
Contribution Year Change Deadline: April 15 annually
(For contributions made between January 1 and the federal tax filing deadline)
How to request an IRA contribution year change at M1
To request a change to the tax year of a Traditional or Roth IRA contribution:
Contact M1 Client Success
Visit the Contact Us page for ways to reach M1 support.
Submit a request via the in-app support, web chat, or email.
Request an IRA Contribution Year Change
Let the Client Success team know you want to change the tax year for a deposit.
They will provide the appropriate form for you to complete.
Fill Out the Form
You’ll be asked to provide:
Your M1 account number
The date(s) of the contribution(s)
The amount(s) contributed (use the total amount if changing multiple contributions)
Type of account (Traditional or Roth IRA)
The correct intended tax year for the contribution
Note: SEP IRA contributions cannot be reassigned to a different tax year.
M1 and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. It is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
Brokerage accounts on the M1 platform are either fully disclosed to APEX Clearing or cleared through M1 Finance LLC. Please look at your account statement to determine how your account is cleared.
All investing involves risk, including the risk of losing the money you invest. Past performance does not guarantee future performance. Using margin can add to these risks. Users utilizing APEX cleared margin accounts should review the APEX margin account risk disclosure before borrowing. Users utilizing M1 cleared margin accounts should review the M1 margin account risk disclosure before borrowing. M1 Margin Loans are available on margin accounts with at least $2,000 invested per account. Not available for Retirement or Custodial accounts. Margin rates may vary.
Brokerage products and services are offered by M1 Finance LLC, Member FINRA / SIPC, and a wholly owned subsidiary of M1 Holdings, Inc.
This content was generated using artificial intelligence and is intended for informational and educational purposes only. While reasonable efforts are made to ensure accuracy, AI-generated outputs may omit key context; and should not be construed as financial, investment, legal, or tax advice. Users should independently verify all information and consult a qualified professional before making any financial decisions.
SAIF-08222025-biltyy5g