FINRA course updates for 2024

At Achievable, we monitor the rules and regulations that are relevant to all of our FINRA and NASAA test preparation courses: the FINRA SIE, Series 6, Series 7, and NASAA Series 63, Series 65, and Series 66. There were some key updates in 2024 which you will need to know to properly prepare for these exams in the new year. We’ve put together a quick summary of those updates below:

Retirement plan contribution limits

The retirement plan contribution limits have changed in 2024:

• IRA contribution limit for those under age 50: $6,500 –> $7,000
• IRA contribution limit for those over age 50: $7,500 –> $8,000
• 401(k), 403(b), and 457 plans’ contribution limit: $22,500 –> $23,000
• Keogh (HR-10) plan contribution limit: $66,000 –> $69,000

Gift tax exemption

The gift tax exemption limits increased in 2024:

• Annual gift tax exemption: $17,000 –> $18,000
• 5 year 529 gift rule: $85,000 –> $90,000

Estate tax exemption

The estate tax exemption was changed from $12.92 million to $13.61 million in 2024.

Roth 401(k)

Required Minimum Distributions (RMDs) are no longer required starting in 2024