Kent Allard Posted February 24, 2024 Posted February 24, 2024 This post's inquiry entails if § 416 minimum contributions routinely have § 404(a)(3) limits waived. https://www.irs.gov/pub/irs-tege/epche903.pdf
C. B. Zeller Posted February 24, 2024 Posted February 24, 2024 The 404(a)(3) limit is 25% of compensation. The top heavy minimum contribution in a DC plan is 3% of compensation. Since 3 is less than 25, I am not sure why the deduction limit would be an issue here. Can you be more clear about your question? Bill Presson 1 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
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