When we think about the first half of the year, most of us think “tax season.” But January through June is also packed with important IRA and retirement-related deadlines that can significantly affect your overall financial plan.

January 1, 2026: Contribution Window Opens

As of January 1, you can begin making your 2026 IRA contributions. For traditional and Roth IRAs, you have until April 15, 2027, to fully fund your 2026 contribution, but many individuals prefer to contribute earlier in the year. Funding your IRA in the first half of the year may give your investments more time to grow on a tax-advantaged basis, assuming you will be eligible to make a contribution.

If you’re making a prior-year contribution (for 2025) in early 2026, be clear about which tax year it applies to. When contributing by check, write “2025 IRA contribution” in the memo line. If contributing electronically, confirm that the correct year is selected. If you don’t specify, your custodian may default to the current year.

January 1: Qualified Charitable Distributions (QCDs)

If you’re 70½ or older, you can begin making Qualified Charitable Distributions (QCDs) from your IRA as early as January. For those subject to Required Minimum Distributions (RMDs), QCDs can count toward your 2026 RMD and may help reduce taxable income. Starting early in the year can provide flexibility and avoid a year-end scramble.

April 15, 2026: Prior-Year IRA Contributions

April 15, 2026, is the deadline for making a 2025 IRA contribution, Roth IRA contribution, and SEP IRA contribution (if you are self-employed). It’s also the deadline to recharacterize certain IRA contributions. Recharacterizing allows you to change the type of IRA contribution you made, such as moving a contribution from a Roth IRA to a Traditional IRA (or vice versa), and have it treated as if it were originally made to the correct account. This can be especially helpful if your income ends up affecting your Roth eligibility. For example, if you contribute to a Roth IRA and later discover your income exceeds the allowable limits, you may be able to recharacterize the contribution before the tax deadline to help avoid penalties. Keep in mind, however, that while IRA contributions can be recharacterized, Roth conversions can not be undone. For many individuals and small business owners, this deadline is an important mid-spring tax-planning checkpoint.

It’s also important to understand how filing a tax extension affects these deadlines.

Filing an extension gives you additional time to file your tax return, but it does not extend most IRA-related deadlines. It does not move the deadline for making Traditional or Roth IRA contributions, taking Required Minimum Distributions, completing Roth conversions, or making Qualified Charitable Distributions for the year. One key exception applies to SEP-IRAs and Solo 401(k) plans for self-employed individuals and business owners—if a tax extension is filed, the contribution deadline may extend to the October filing deadline. Coordinating these decisions with your financial planner or tax advisor is essential.

Roth Conversions and Tax Planning (January–June)

While Roth conversions can generally be made throughout the year, the first half of the year is often an ideal time to evaluate your expected income and consider whether a conversion makes sense. Once your prior tax return is done, you can see where you stand and determine if the current year will be similar. Coordinating conversions with other income sources—such as Social Security benefits, required distributions, or capital gains—can help manage tax brackets strategically.

College and Cash Flow Planning

If you’re funding both retirement and college, the first half of the year is a good time to review cash flow. IRA contributions can affect adjusted gross income, which may, in turn, affect financial aid calculations and certain tax credits. Coordinating retirement savings with 529 plan funding and tuition payments is key.

In short, the first half of the year isn’t just about filing last year’s tax return; it’s about planning intentionally for the year ahead. While this time of year often has us looking backward to gather documents and finalize numbers, it’s also one of the best opportunities to look ahead and identify proactive tax-planning strategies. Whether it’s evaluating IRA contributions, coordinating charitable distributions, considering Roth conversions, or aligning retirement and college funding goals, early action can create meaningful flexibility. When it comes to tax and retirement planning, the early bird truly does get the worm.