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Visitor II

2017 Excess Contributions Not Withdrawn In Time - How to Correct?

Hello Everyone,

 

I filed my taxes for 2017 before the deadline.  I changed jobs during that year and discovered an excess contribution to my 401K accounts beyond the IRS limits.  Unfortunately this discovery was made only a couple weeks from the tax deadline.  I requested from my employer to remove the excess funds from my 401K account and send a check.  They said they would expedite it.  I then filed my taxes a day or so later.  After filing, they said they wouldn't be able to do it in time so a check was never sent.  At this point, how do I correct this error?

 

Thank you!

1 Comment
Visitor II

2017 Excess Contributions Not Withdrawn In Time - How to Correct?

Does anyone know what to do in this situation?  Thanks!

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