2024 401k Maximum Contribution Limits Irs. 401 (k) and 403 (b) contribution limits increase. In its announcement on friday, the agency increased the employee deferral limit to $23,500, up.

If you exceed your 401(k) contribution in a calendar year, the irs may impose a 6% penalty for each year your. This amount is an increase of $500 from the 2023 401 (k).