I am getting a corrected W2 and the only thing being changed is the box under retirement plan is getting checked. Will this require me to amend my return?

[MSafe]

In box 13 on my W2 nothing was checked on the original W2, on my corrected one the retirement plan box is now checked.

[TomK · Accepted solution]

Yes, you should amend your return to reflect that you participate in a retirement plan so you can be properly credited for deductions, taxes, etc.

The “Retirement plan” indicator in Box 13 shows whether an employee is an active participant in your company’s plan. If this box is checked, it lets the recipient know that depending on their filing status and modified adjusted gross income, they may not be entitled to a full deduction for their traditional IRA contributions. 

Since you have already e-filed or mailed the return, you will need to wait until the IRS has accepted that return.  Once they accept it and you have received your refund, then you can amend the return to correct your W-2.

If it gets rejected, you can just make the needed changes and file again.

Please note: A Form 1040X, Amended U.S. Individual Income Tax Return can take up to 16 weeks to process once the IRS receives it.

After you have received your refund, please read this TurboTax FAQ about amending your 2018 tax return: How to amend (change or correct) a return you already filed.

[br00044]

The only contributions I made were to my 401K through payroll I did not make any IRA contributions

do I still need to amend my return?

[MaryK4]

If the only change on the W2 is the Retirement Plan and you did not make any retirement contributions outside of that job you do not need to amend.

@br00044

[bdonnelly37]

is this correct? Same thing happened to me?

[bdonnelly37]

did you have an issue with this by not amending? I am currently in the same situation