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 |
|---|---|---|---|---|
| 2016 | $18,000 | $24,000 | 12/31/2016 | 12/31/2016 |
| 2017 | $18,000 | $24,000 | 12/31/2017 | 12/31/2017 |
Employer 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 |
|---|---|---|---|---|
| 2016 | $53,000 | $59,000 | 12/31/2016 | 4/15/2017 |
| 2017 | $54,000 | $60,000 | 12/31/2017 | 4/15/2018 |
- Employer non-elective contributions up to 25% of compensation as defined by the plan
- If A one-participant 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. A one-participant plan with fewer assets may be exempt from the annual filing requirement.
Please visit www.IRS.gov – Individual 401k for more details.