Make no mistake, there is no "grey area" or legal loophole you can exploit: precious metals IRA residence storage is in opposition to the legislation, and will disqualify your IRA. The restrict for annual contributions to an IRA is $5,500 for 2015, and $6,500 for folks over 50. That limit is identical for both traditional and Roth IRAs. Whereas the opportunity to contribute to a 401(okay) is restricted to people employed by companies that provide such plans, anybody can contribute to a conventional IRA (particular person retirement account).