Prediction of residual stress profiles after quenching is important for a range of industry applications. Finite element method (FEM) models have the capability of simulate the cooling and stress evolution during quenching; however, they are very dependent on the heat transfer coefficient (HTC) imposed on the surface. In this paper, an analysis of the HTC effect on the accuracy of the residual stress profile after quenching a 304L stainless steel Jominy sample was conducted. The FEM model was validated in its thermal accuracy using thermocouples and the residual stress profile was measured using the contour method. The results show that a thermally validated FEM model may yield results which overestimate the tensile residual stress and underestimates the compressive residual stress maxima while accurately calculating the maxima positions from the quenched edge. The FEM model accuracy was not improved by modifying the HTC or by using a different thermal expansion coefficient. The results are discussed in terms of the effect of plasticity due to twinning in the residual stresses calculated by the FEM model.