After importing Eclipse project: Error:(29, 10) java: annotations are not supported in -source 1.3

I imported an Eclipse project into Intellij IDEA using the steps provided in documentation:

clicked Import Project on the Welcome screen
In the dialog that opens, selected the necessary Eclipse project
selected Import project from external model
then selected Eclipse

Now when I go to 'Run App', I get the following error:

Error42, 23) java: generics are not supported in -source 1.3
  (use -source 5 or higher to enable generics)

I do not think my project is using gradle, maven or another build system. I believe it is using the default Eclipse build system. So what steps can I take to adjust the source level in intellij IDEA?

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