Employee Contribution

YEAR CONTRIBUTION IF UNDER THE AGE OF 50 CONTRIBUTION IF OVER THE AGE OF 50 DEADLINE TO OPEN IRA DEADLINE TO CONTRIBUTE TO IRA
2018 $18,500 $24,500 12/31/2018 12/31/2018 (or last paycheck)
2019 $19,000 $25,000 12/31/2019 12/31/2019 (or last paycheck)

Total Contribution

YEAR CONTRIBUTION IF UNDER THE AGE OF 50 CONTRIBUTION IF OVER THE AGE OF 50 DEADLINE TO OPEN IRA DEADLINE TO CONTRIBUTE TO IRA
2018 $55,000 $61,000 12/31/2018 4/17/2019 (plus extensions)
2019 $56,000 $62,000 12/31/2019 4/15/2020 (plus extensions)
  • Employer non-elective contributions up to 25% of compensation as defined by the plan
  • If an individual 401(k) plan has $250,000 or more in assets at the end of the year, it is generally required to file an annual report on Form 5500-SF.

Please visit www.IRS.gov – Individual 401k for more details.