Contribution Limits

The deadline to make a 2019 contribution is April 15th, 2020.

2018 Contribution Limits

Traditional/Roth IRAs
Annual Contribution: $5,500
Catch-Up Contribution: $1,000
SEP IRA
Annual Contribution: The lesser of $55,000 or 25% of compensation
SIMPLE IRA
Employee Salary Deferral: $12,500
Salary Deferral Catch-Up Contribution: $3,000
Employer Matching Contribution: Between 1-3% of employee’s deferral
Employer Non-Elective Contribution: 2% of employee’s compensation
401(k)/Profit-Sharing Plan
Employee Salary Deferral: $18,500
Salary Deferral Catch-Up Contribution (ages 50 and older): $6,000
Employer Profit-Sharing Contribution: Up to 25% of salary of self-employed earning
Total Combined Contribution-Salary Deferral plus Profit Sharing Match (under age 50): $55,000
Total Combined Contribution-Salary Deferral plus Profit Sharing Match (ages 50 or older): $61,000
Health Savings Account (HSA)
Individual HSA Account: $3,450
Family HSA Account: $6,900
Additional Catch-Up Provision: $1,000
Education Savings Account (ESA)
Annual Contribution (per beneficiary): $2,000

2019 Contribution Limits

Traditional/Roth IRAs
Annual Contribution: $6,000
Catch-Up Contribution: $1,000
SEP IRA
Annual Contribution: 25% of net earnings up to $56,000
SIMPLE IRA
Employee Salary Deferral: $13,000
Salary Deferral Catch-Up Contribution: $3,000
Employer Matching Contribution: Between 1-3% of employee’s deferral
Employer Non-Elective Contribution: 2% of employee’s compensation
401(k)/Profit-Sharing Plan
Employee Salary Deferral: $19,000
Salary Deferral Catch-Up Contribution (ages 50 and older): $6,000
Employer Profit-Sharing Contribution: Up to 25% of salary of self-employed earning
Total Combined Contribution-Salary Deferral plus Profit Sharing Match (under age 50): $55,000
Total Combined Contribution-Salary Deferral plus Profit Sharing Match (ages 50 or older): $61,000
Health Savings Account (HSA)
Individual HSA Account: $3,450
Family HSA Account: $6,900
Additional Catch-Up Provision: $1,000
Education Savings Account (ESA)
Annual Contribution (per beneficiary): $2,000