There are specific rules self-employed taxpayers must follow in regard to the timing of their Keogh plan contributions. Learn more here.

Contributions must be made by the EXTENDED DUE DATE of the return to which the contribution applies; prior to the SECURE Act, a plan had to be set up before year-end of the year to which the contribution applied. The deadline for setting up a qualified plan was changed by the SECURE Act, effective for plans adopted for tax years beginning after Dec. 31, 2019. Now, a taxpayer may treat a qualified plan as being adopted as of the last day of the tax year if the plan is adopted before the due date (including extensions) of the tax return for the taxable year. (IRC Sec 401(b)(2), added by the SECURE Act Sec 201(a)(2)) For example, a self-employed taxpayer would have until October 16, 2023, to adopt a qualified plan for tax year 2022 and make contributions to the plan, if the taxpayer had a valid extension for filing the return.