Account Contribution Limits

Type	Requirements		Limit	More Reading
Tax Year 2022
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
Employee Elective Deferral 401(k) or 403(b) plans	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
Employee Deferred Compensation 457(b) plans	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
	Single Plan	Age 55 and over	$4,650
	Family Plan	Age 54 and under	$7,300
	Family Plan	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
	Other Spouse Catch-Up	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

Tax Year 2023
Account Type	Requirements		Contribution Limit	More Reading
Traditional or Roth IRA Contribution (subject to phaseouts, limited by wages)	Age 49 and under		$6,500	Should I Fund a Roth or a Traditional Account? Do Large Roth Conversions Require Backdoor Roth Contributions? Change from 2022: +$500 to the contribution limit Catch-up contribution stays at $1,000
	Age 50 and over		$7,500

Employee Elective Deferral 401(k) or 403(b) plans	Age 49 and under		$22,500	Choosing Between Your Employee Retirement Account Options Is Funding My 401(k) Match Sufficient to Fund My Retirement? Change from 2022: +$2,000 to the elective deferral Catch-up contribution increases by +$1,000 to $7,500
Employee Elective Deferral 401(k) or 403(b) plans	Age 50 and over		$30,000

Employee Deferred Compensation 457(b) plans	Age 49 and under		$22,500	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 2022: +$2,000 to the elective deferral Catch-up contribution increases by +$1,000 to $7,500
Employee Deferred Compensation 457(b) plans	Age 50 and over		$30,000

Employee Elective Deferral SIMPLE 401(k) or IRA Plan (with further limitations)	Age 49 and under		$15,500	Change from 2022: +$1,500 to the elective deferral Catch-up contribution increases by +$500 to $3,500
	Age 50 and over		$19,000

SEP IRA Employer Contribution 401(k), 403(b), or 457 plans Employer Contribution	The smaller of:		$66,000 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 2022: +$5,000 to the limitation for defined contribution plans

Health Savings Account (HSA) Contribution	Single Plan	Age 54 and under	$3,850	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 2022: +$200 to base single contribution limit +$450 to base family contribution limit
	Single Plan	Age 55 and over	$4,850
	Family Plan	Age 54 and under	$7,750
	Family Plan	Age 55 and over	$8,750
	Other Spouse Catch-Up	Age 54 and under	+$0	Both Spouses Can Make The HSA Catch-Up Contribution Catch-up contribution remains at $1,000
	Other Spouse Catch-Up	Age 55 and over	+$1,000

Annual Gift Exclusion	Per Donee / Donor Combination		$17,000	Gifts, Taxes, and IRS Form 709 Annual Exclusion From Gift Taxes IRS: Frequently Asked Questions on Gift Taxes Change from 2022: +$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:

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Account Contribution Limits

Tax Year 2022

Tax Year 2023

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

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