2024 Limits on Contributions to 401(k) Plans Qualified in Puerto Rico

Summary

On January 30, 2024, the Puerto Rico Department of the Treasury (commonly known by its Spanish name as ''Hacienda'') issued Circular Letter of Internal Revenue No. 24-01, establishing the 2024 annual limits on, among others, contributions by Puerto Rico participants to 401(k) plans in operation in Puerto Rico. Basically, the 2024 limits are: