Does the IRS or any agency send me notice if I over contribute to my HSA or 401k account and I’m penalized?

Kell23elis · ‎June 1, 2019

How will I know If I’m being penalized?

WillK · ‎June 1, 2019

If you do over-contribute and your retirement agency sends you a notification and you need to amend your return you know if you will be penalized and for how much. If the IRS makes any kind of adjustment to your return regarding the over-contribution, they will send you a letter and let you know if there are any penalties associated with it.

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Does the IRS or any agency send me notice if I over contribute to my HSA or 401k account and I’m penalized?