How is a 403(b)(9) different from a 403(b) retirement plan?

403(b)(9) plans are for churches, or those with 501(c)(3) church status, while 403(b) plans are for everyone else. There is no reason to use a 401(k) plan when you are a non-profit 501(c)(3)—church or not.

Not sure if you have a 501(c)(3) church status?

Reference your determination letter from the IRS. Within this letter, the IRS will state that they have determined that you are exempt from Federal Income Tax under section 501(c)(3) of the Internal Revenue Code.

Click here to learn more about Church Retirement Plans.

Envoy does not offer legal or tax advice and encourages that you consult with a lawyer and/or professional tax advisor for personalized tax advice.