Tax Year 2022

Type Requirements Limit More Reading
Traditional or Roth IRA Contribution

(subject to phaseouts, limited by wages)

Age 49 and under $6,000 Should I Fund a Roth or a Traditional Account?

Do Large Roth Conversions Require Backdoor Roth Contributions?

Change from 2021:
No change.

Age 50 and over $7,000
Employee Elective Deferral
401(k) or 403(b) plans
Age 49 and under $20,500 Choosing Between Your Employee Retirement Account Options

Is Funding My 401(k) Match Sufficient to Fund My Retirement?

Change from 2021:
+$1,000 to the elective deferral;
Catch-up contribution stays at $6,500

Age 50 and over $27,000
Employee Deferred Compensation
457(b) plans
Age 49 and under $20,500 There also may be special 457(b) catch-up contributions when you are 3 years prior to the plan’s specified retirement age.

Change from 2021:
+$1,000 to the elective deferral
Catch-up contribution stays at $6,500

Age 50 and over $27,000
Employee Elective Deferral
SIMPLE 401(k) or IRA Plan
(with further limitations)
Age 49 and under $14,000 Change from 2021:
+500 to the elective deferral
Catch-up contribution stays at $3,000
Age 50 and over $17,000
SEP IRA Employer Contribution

401(k), 403(b), or 457 plans Employer Contribution

The smaller of: $61,000

or 25% of compensation

Can I Contribute to Both a SEP and a 401(k)?

Individual 401(k) Elective Deferral Limits and Deadlines

Service: Retirement Plan Management

Change from 2021:
+$3,000 to the limitation for defined contribution plans

Health Savings Account (HSA) Contribution Single Plan Age 54 and under $3,650 When Should You Stop Funding Your HSA?

When Partial-Year HSA Contribution Limits Don’t Apply

A Guide to HSA Qualified Medical Expenses, Contributions, and Family Plans with Adult Children

Service: Health Savings Account Advice

Change from 2021:
+$50 to base single contribution limit
+$100 to base family contribution limit

Age 55 and over $4,650
Family Plan Age 54 and under $7,300
Age 55 and over $8,300
Other Spouse Catch-Up Age 54 and under +$0 Both Spouses Can Make The HSA Catch-Up Contribution

Change from 2021:
catch-up remains at $1,000

Age 55 and over +$1,000
Annual Gift Exclusion Per Donee / Donor Combination $16,000 Gifts, Taxes, and IRS Form 709

Annual Exclusion From Gift Taxes

IRS: Frequently Asked Questions on Gift Taxes

Change from 2021:
+$1,000 to the annual limit

Need help figuring out which account to fund first?
You may enjoy our Account Funding Priorities series.

You can find the IRS page on the same topic here: Retirement Topics – Contributions

Previous years:

Featured Image by Melissa Walker Horn on Unsplash