Do IRAs or HSAs count against IRS 415(c) contribution limit?

[cheminsky]

I’m in the fortunate position to potentially max the 415(c) limit for the first time in 2024, which is $69,000 (under 50). I want to ensure that I don’t go over $69k. Math:

401k ($23,000), 401k employer match ($7,000),
Employee Stock Ownership Plan (ESOP) ($20,000),
Bonus company defers on my behalf (instead of cash bonus) ($19,000).

Assuming I hit $69k above, may I also contribute to IRA 219(b)(5)(A) ($7,000) and/or HSA 223(b)(2)(A) up to ($4,150)?

 

[patim22]

@cheminsky That 69K limit applies to your 401k.

It has nothing to do with anything else.

Your employer can contribute up to 46K in addition to your 23K employee contribution for a total max of 69K in the 401k.

Everything else (HSA/IRA/ESOP/bonuses/etc) have nothing to do with it.

 

[cheminsky]

@patim22 Are you sure on ESOP? According to IRS it is a 401(a) qualified defined contribution plan.

 

[patim22]

@cheminsky 401k limits are separate from 401a limits.

 

[krm]

@cheminsky Generally, deductible "contributions" by the employer to an ESOP are exempt from the 415(c) limit under 415(c)(6), but it depends on the plan.

 

[breety]

@cheminsky No HSA and IRA contributions do not count against the 69k limit

 

[dragonslayer3000]

@cheminsky Title no, body yes.

The limits are separate. However, if you are covered by an employer plan like a 401k, please note that Traditional IRA contributions may not be deductible. You would need to check your income against the Roth IRA limits. If over that, and you have low/no pretax IRA balances, then you can look into the backdoor Roth IRA method.