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taxmap/pubs/p571-014.htm#TXMP5158b82c Chapter 5 |
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Self-employed ministers and church employees who participate in 403(b) plans generally follow the same rules as other 403(b) plan participants.
This means that if you are a self-employed minister or a church employee, your MAC generally is the lesser of:
For most ministers and church employees, the limit on annual additions is figured without any changes. This means that if you are a minister or church employee, your limit on annual additions generally is the lesser of:
Although, in general, the same limit applies, church employees can choose an alternative limit and there are changes in how church employees, foreign missionaries, and self-employed ministers figure includible compensation for the most recent year of service. This chapter will explain the alternative limit and the changes.
taxmap/pubs/p571-014.htm#TXMP6a56a642 |
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A church employee is anyone who is an employee of a church or a convention or association of churches, including an employee of a tax-exempt organization controlled by or associated with a convention or association of churches.
taxmap/pubs/p571-014.htm#TXMP2ca1d3e3 |
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If you are a church employee, you can choose to use $10,000 a year as your limit on annual additions.
Total contributions over your lifetime under this choice cannot be more than $40,000.
 Previous Page:
Publication 571 - Tax-Sheltered Annuity Programs for Employees of Public Schools and Certain Tax-Exempt Organizations - Figuring the Limit on Elective Deferrals Next Page:
Publication 571 - Tax-Sheltered Annuity Programs for Employees of Public Schools and Certain Tax-Exempt Organizations - Changes to Includible Compensation for Most Recent Year of Service
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