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Let's say I contributed $8,000 to my 401(k) while working at company X in 2016. Later I quit company X. I am now working at company Y. I'm thinking of rolling over the 401(k) at company X to traditional IRA. My question is, what's my contribution limit to 401(k) at company Y for 2016? Is it $10,000 or $18,000? In other words, does the rollover "reset" the contribution to 401(k)?

Cloudy
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tomo4376
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1 Answers1

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Your deposits, if under age 50, are limited to the $18,000. The rollover doesn't change this. Company match is separate from the $18,000.

As we discussed in a recent question, verify the former employer permits this.

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JoeTaxpayer
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