IRS has Retirement Savings Plan (RSP) limit of $19,500 for year 2020. What happens if I make more contributions than this limit? Do I need to pay additional tax now? (I am less than 50 years old, having only 1 full time job.)

  • 2
    How many jobs do you have? Commented Jan 5, 2020 at 16:22
  • only one job, fulltime
    – ewr3243
    Commented Jan 5, 2020 at 20:14

1 Answer 1


Your employer will typically not allow more than the limit to go in there. Your contributions simply stop when reach the limit.

Note that this is not a good plan to try - if your contributions stop, the employer match stops too for the rest of the year, so you could lose out. Make sure to not reach the limit before the end of the year, so you can still get employer matching.

  • Agreed. Unless the employer has a "true up" policy. Which should be somewhere in the company's benefit policy docs.
    – emilliman5
    Commented Jan 6, 2020 at 18:54

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