It is VERY much like a Kehoe acount, you are limited to the $2000.00 per year, however, you can file an adjustment to income and then go up to $10000.00 per year. Check out the irs.org site and they will help you file the adjustment..

Bubba

I have never hear of a limit but I have my set up before taxs.

You can contribute up until tax due day as long as you specify that it's for the prior year. If you don't they will credit it for the current year.

A 401K is a salary deferral plan so you have to contribute out of your salary between Jan. and Dec each year.

You have to have contributed to your 401k by the last pay period where you receive a paycheck in the current year. You can contribute to an IRA by the tax return due date.

An EMPLOYEE may contribute up to $15,000 to a QUALIFIED 401(k) plan. You may do it all at once or over the course of the year. If you are 50 or over, there is a catch up clause that allows you to contribute another $5,000 a year. These numbers are indexed for inflation at about $500 each per year. Also, if you contribute more than this, you may take a distribution from the plan for the amount over before april 15 and you will not pay a penalty. just be sure you include the distribution in your normal income for the year.