What is the limit on after-tax 401k contributions?
The 2021 total contribution limit from all sources is $58,000 or $64,500 for participants 50 or older. The IRS made this rule because some companies provide contribution matches toward their employees’ 401(k) plans. Some also allow workers to make after-tax contributions.
What was the 401k limit for 2011?
$16,500.00
Historical Contribution Limits for 401(k) Plans, 1978 – 2022
| Year | Employee Contribution Limit | Age 50+ Catchup Contribution |
|---|---|---|
| 2013 | $17,500.00 | $5,500.00 |
| 2012 | $17,000.00 | $5,500.00 |
| 2011 | $16,500.00 | $5,500.00 |
| 2010 | $16,500.00 | $5,500.00 |
Can I contribute to 401k after year end?
401(k) Plans Employers may have a longer time period with which to make matching contributions for a given year of a plan. This means an employee technically can make 401(k) contributions as late as the deadline for their company to file its taxes, including any extensions.
What is the maximum 401K contribution for 2015?
$18,000
The elective deferral (contribution) limit for employees who participate in 401k, 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $17,500 to $18,000.
Can you contribute to 401k after year end?
What happens if I go over the max 401k contribution?
The Excess Amount If the excess contribution is returned to you, any earnings included in the amount returned to you should be added to your taxable income on your tax return for that year. Excess contributions are taxed at 6% per year for each year the excess amounts remain in the IRA.
What is the max 401k contribution for 2022?
$20,500
The employee contribution limit for 401(k) plans is increasing to $20,500 in 2022, up from $19,500, and catch-up deposits for savers 50 and older will still be $6,500. This change will also apply to people who use the 403(b), most 457 plans, and the federal government’s Thrift Savings Plan.