INDIVIDUAL 401(k)
01.Core Concepts
• 401(k) plan for businesses where the only employees are the owner and/or spouse • As the employee, the business owner can contribute up to $23,500 (in 2025), plus catch-up if age 50+ • The business can make matching and/or profit-sharing contributions on behalf of the owner • Maximum total contribution $70,000 (in 2025), plus catch-up • Not subject to ADP/ACP testing • Retroactive first year elective deferrals