Plan Limits & Deadlines
A quick look at the current allowable plan limits and important dates to keep in mind when it comes to managing a retirement plan.
Annual Plan Limits
ERISA requires all qualified retirement plans to limit the amount of annual contributions or benefits. See the chart and details below to learn more about how much can be funded to different types of qualified retirement plans.
| Cost of Living Dollar Limits | 2024 | 2025 |
|---|---|---|
| 401(k) Deferrals | $23,000 | $23,500 |
| 401(k) Catch-up Contributions | $7,500 | $7,500 |
| Higher Catch-up (Age: 60, 61, 62, 63) | N/A | $11,250 |
| Defined Contribution Limit | $69,000 | $70,000 |
| Defined Benefit Limit | $275,000 | $280,000 |
| Compensation Limit | $345,000 | $350,000 |
| Highly Compensated Employees | $155,000 | $160,000 |
| 403(b) / 457 Deferrals | $23,000 | $23,500 |
| SIMPLE Deferrals | $16,000 | $16,500 |
| SIMPLE Catch-up Contributions | $3,500 | $3,500 |
| Social Security Wage Base | $168,600 | $176,100 |
Compliance Calendar
401(k) Plans and other tax-qualified retirement plans must comply with a number of tax filing and other important deadlines throughout the year. The list below is a summary of the common compliance deadlines for most calendar-year qualified plans.
| Plan Event | Deadline |
|---|---|
| Form 5500 and Schedules Due to DOL (if necessary) | 7 months after plan year end unless an extension is filed |
| Form 5558 Extension Due to DOL (if necessary) | 7 months after plan year end |
| Form 5500 and Schedules Due to DOL on Extension | 9.5 months after plan year end |
| Form 1099-R Mailed to Participants | January 31 |
| Form 945 Due to IRS | February 10 |
| Form 1096 Due to IRS | February 28 |
| Return of Excess Deferrals in case of a Failed ADP Test Without Penalty | 2 ½ months after plan year end |
| Employer Contributions Due to Plan | Same date as corporate tax return including extensions |
| Safe Harbor Notices to Employees | 30 to 90 days prior to start of plan year |
| Safe Harbor Notices to Employees (New Plans or Existing Profit Sharing Plans only) | Any time on or before the plan effective date |
| Required Minimum Distributions | December 31 (exceptions may apply) |
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