Maximum 401k safe harbor plan for 2021

May a 55 year old participant  earns 200,000 (sole participant)

May his 2021 contribution be

$20,500 deferal

    6, 500 catchup

    6,000  3% safe harbor

Total  $33,000  for 2021

Is the 33,000 allowed

Do you mean 2022?  Why would you think it's not allowed?

Why would you have a safe harbor plan if there are no other participants?

Does this individual have a SEP or any other plans?

3 hours ago, ratherbereading said:

Do you mean 2022?  Why would you think it's not allowed?

My concern is this is a 401K plan.

I want to make sure that the $33,000  doesn't  exceed

the 401K limit of $27000  for 2021

Thank you for your help

Well the deferral limit for 2021 is $19,500 with $6,500 catchup. So 2021 has a $26,000 limit. 

The employer contributions don't count against that limit.

This thread has me a little concerned.

Thank you.

The numbers were for 2022

This is amazingly confused.  Why are you listing catch-ups of any kind for somebody age 55?

8 hours ago, Mike Preston said:

This is amazingly confused.  Why are you listing catch-ups of any kind for somebody age 55?

Gotta admit, Mike, this confuses me. Why wouldn't someone show a catch-up contribution for someone 50 or over? May not HAVE to do it in a solo plan, but can.

1 hour ago, Bill Presson said:

Gotta admit, Mike, this confuses me. Why wouldn't someone show a catch-up contribution for someone 50 or over? May not HAVE to do it in a solo plan, but can.

You are correct. Blame it on jet lag.

On 1/4/2022 at 7:15 PM, Egold said:

May a 55 year old participant  earns 200,000 (sole participant)

May his 2021 contribution be

$20,500 deferal

    6, 500 catchup

    6,000  3% safe harbor

Total  $33,000  for 2021

Is the 33,000 allowed

Egold, not only is that amount allowed but much more.

The overall max for 2022 is $61,000; the catchup doesn't count towards that so effectively it becomes $67,500.  Can he get there?  Well if we subtract 20500 from 61000 we get 40500.  The employer contribution is limited to 25% of pay, which is 50000.  40500 < 50000 so 40500 is ok as an employer contribution...if we are talking about a corporation.  If it is a sole proprietor then you have to subtract the employer contribution and part of the self-employment tax to get net/net compensation, and that number would be somewhat less than 40500.

The gist of your question seems to be whether the employer safe harbor contribution counts against the 401(k) limit and the answer is emphatically "no."

As others have noted, there is no point to the safe harbor if he is the only participant.  It doesn't actually hurt but is probably causing confusion.