Internal Revenue Code Section 402(g)
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Internal Revenue Code Section 402(g) is the U.S. tax law provision that sets the annual dollar limit on how much employees can defer from their compensation into tax-favored retirement plans such as 401(k) and 403(b) plans.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
U.S. federal tax law provision
ⓘ
section of the Internal Revenue Code ⓘ |
| alsoKnownAs |
402(g) elective deferral limit
NERFINISHED
ⓘ
elective deferral limit ⓘ |
| appliesOn | a calendar-year basis for determining excess deferrals ⓘ |
| appliesPer | individual taxpayer across all applicable plans ⓘ |
| appliesTo |
401(k) plans
ⓘ
403(b) plans ⓘ SARSEP plans ⓘ SIMPLE 401(k) plans NERFINISHED ⓘ SIMPLE IRA plans ⓘ designated Roth contributions under 401(k) and 403(b) plans ⓘ elective deferrals under cash or deferred arrangements ⓘ eligible governmental 457(b) plans ⓘ employee elective deferrals ⓘ employees participating in salary reduction arrangements ⓘ pre-tax elective deferrals ⓘ |
| authorizes | the Secretary of the Treasury to adjust the elective deferral limit for inflation ⓘ |
| defines | annual dollar limit on elective deferrals ⓘ |
| doesNotLimit | catch-up contributions under Internal Revenue Code Section 414(v) ⓘ |
| effectiveFrom | tax years beginning after 1978 ⓘ |
| excludes |
employer matching contributions from the 402(g) limit
ⓘ
employer nonelective contributions from the 402(g) limit ⓘ rollover contributions from the 402(g) limit ⓘ |
| governs | maximum amount employees may defer from compensation into certain retirement plans ⓘ |
| interactsWith |
Internal Revenue Code Section 401(k)
NERFINISHED
ⓘ
Internal Revenue Code Section 403(b) NERFINISHED ⓘ Internal Revenue Code Section 415(c) NERFINISHED ⓘ Internal Revenue Code Section 457(b) NERFINISHED ⓘ |
| isAdministeredBy | Internal Revenue Service NERFINISHED ⓘ |
| isCodifiedIn | Title 26 of the United States Code NERFINISHED ⓘ |
| isIndexedFor | cost-of-living adjustments ⓘ |
| isReferencedIn |
IRS Notice and Revenue Procedure guidance on cost-of-living adjustments
ⓘ
IRS Publication 525 NERFINISHED ⓘ IRS Publication 560 NERFINISHED ⓘ |
| jurisdiction |
United States of America
ⓘ
surface form:
United States
|
| limits | combined elective deferrals to 401(k), 403(b), SARSEP, and SIMPLE plans ⓘ |
| partOf | Internal Revenue Code NERFINISHED ⓘ |
| provides | that elective deferrals in excess of the 402(g) limit are excess deferrals ⓘ |
| regulates | elective deferrals to tax-favored retirement plans ⓘ |
| requires |
distribution of excess deferrals to avoid adverse tax consequences
ⓘ
inclusion in gross income of excess deferrals not timely distributed ⓘ plan administrators to monitor elective deferrals against the annual limit ⓘ |
| sets | a separate limit from the overall annual additions limit under Section 415(c) ⓘ |
| subjectTo | annual dollar amount published by the Internal Revenue Service ⓘ |
| wasAddedBy | Revenue Act of 1978 NERFINISHED ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
subject surface form:
403(b) plan