2021 Contribution and Benefit Limits Announced by the IRS

The IRS recently announced the 2021 contribution limit adjustments for retirement plans!

As far as Self-Directed Solo 401(k)s go, the salary deferral limit and catch-up contribution amounts will remain the same as 2020: $19,500 and $6,500, respectively. The combined limit, however, was increased from $57,000 in 2020 to $58,000 in 2021, so the profit-sharing portion can be increased by $1,000!

Please find the complete announcement outlining all retirement plan adjustments in this Notice 2020-79.

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