On January 22, 2025, the Puerto Rico Treasury Department (commonly known by its Spanish name as “Hacienda”) issued Circular Letter of Internal Revenue No. 25-01 [https://hacienda.pr.gov/publicaciones/carta-circular-de-rentas-internas-num-25-01-cc-ri-25-01], establishing the annual contributions and compensation limits applicable for 2025 to 401(k) plans in operation in Puerto Rico. Unfortunately, Hacienda did not increase vis-à-vis 2024, the maximum amounts that Puerto Rico participants can contribute to their 401(k) plan accounts through pre-tax, catch-up, or after-tax contributions. And, because the Puerto Rico Internal Revenue Code of 2011 (“PRIRC”) does not provide for Roth contributions, Puerto Rico participants remain ineligible to make Roth contributions to their 401(k) plan accounts.
Basically, the 2025 limits are: