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QUICK GUIDE TO:
INDIVIDUAL 401(K)S
C O N T R I B U T I O N S
& M A T C H I N G
F I L I N G &
C O M P L I A N C E
T A X
A D V A N T A G E S
Contributions up to $19,500 for 2020 and 2021.
Catch-Up contributions up to $6,500 for both
2020 and 2021.
Additionally, businesses can contribute up to 25%
of compensation not to exceed a total of $57,000
for 2020 and $58,000 in 2021. (Not including the
catch-up contributions above)
Contributions from the business are deductible
on the employer’s federal income tax return.
Elective contributions and investment gains
might enjoy tax deferral until distribution.
Offers both pre-tax & Roth options.
May requires annual 5500 filing.
Discrimination testing is not required due to the
absense of employees.
Life, Inc. Retirement Services is a Registered Investment Advisory Firm of the state of Ohio and
licensed in Florida and Maryland.

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