Vanguard Fiduciary Trust Federal Tax ID Number

Forum|Forum|3 years ago
April 4, 2023
1 reply
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Does anyone know Vanguard Fiduciary Trust Federal Tax ID Number? I had an excess deferral in my 401K in 2022. I asked Vanguard to withdraw the excess amount, and a few days ago Vanguard refunded me the excess 401K contribution. But Vanguard won't send me a 1099-R until next year since this refund was paid back to me in 2023. Per Turbo Tax and the IRS, I have to: "Report the excess deferral on your 2022 return in the Income section for Retirement Plans and Social Security whether or not you received a Form 1099-R before you file your return." (This is copied-and-pasted from TurboTax).

I have to enter this excess deferral in TurboTax for tax Yr 2022, but since I don't have Vanguard's 2023 1099-R yet, I called Vanguard today asking for their Federal Tax ID number. Vanguard wouldn't give it to me! I was on the phone for 30 minutes explaining my problem to different people and they refused to give me Vanguard's Federal Tax Number and insisted that I should not report the 2022 excess amount in my 2022 tax return (???). But Turbo Tax and IRS say I need to do it. And Vanguard won't give me their tax ID number!

Can someone help please?

Best answer by DanaB27

Expert Reviewed

Please follow the steps below to report the excess deferral (instead of entering Form 1099-R):

Login to your TurboTax Account
Click "Wages & Income" (under Federal) on the left side of your screen
Scroll down to "Less Common Income" and click "Show More"
Scroll down to "Miscellaneous Income, 1099-A, 1099-C" and click "Start"
Select "Other income not already reported on a Form W-2 or Form 1099" and click "Start"
On the "Did you receive any other wages?" screen answer "Yes" and click "Continue"
Continue until you get to the "Any other earned income" screen, answer "Yes" and click "Continue"
On the "Enter Source of Other Earned income" screen select "Other" and click "Continue"
On the "Any Other Earned Income" screen enter "2022 Excess 401(k) Deferrals" for the description, enter the amount and click "Done".

If you receive the distribution of the excess deferral and earnings by April 15th then please note for the Tax Year 2023 tax filing due April 15, 2024:

2023 Forms 1099-R will be issued reporting the excess.

Form 1099-R with code P in box 7 can be ignored if you reported the excess as described above in 2022.
However, the earnings on Form 1099-R with Code 8 in box 7 should be reported in 2023.

Please see Pub 525 for additional information.

DanaB27Answer

Level 15

Expert Reviewed

Please follow the steps below to report the excess deferral (instead of entering Form 1099-R):

Login to your TurboTax Account
Click "Wages & Income" (under Federal) on the left side of your screen
Scroll down to "Less Common Income" and click "Show More"
Scroll down to "Miscellaneous Income, 1099-A, 1099-C" and click "Start"
Select "Other income not already reported on a Form W-2 or Form 1099" and click "Start"
On the "Did you receive any other wages?" screen answer "Yes" and click "Continue"
Continue until you get to the "Any other earned income" screen, answer "Yes" and click "Continue"
On the "Enter Source of Other Earned income" screen select "Other" and click "Continue"
On the "Any Other Earned Income" screen enter "2022 Excess 401(k) Deferrals" for the description, enter the amount and click "Done".

If you receive the distribution of the excess deferral and earnings by April 15th then please note for the Tax Year 2023 tax filing due April 15, 2024:

2023 Forms 1099-R will be issued reporting the excess.

Form 1099-R with code P in box 7 can be ignored if you reported the excess as described above in 2022.
However, the earnings on Form 1099-R with Code 8 in box 7 should be reported in 2023.

Please see Pub 525 for additional information.

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