We believe it was kicked back due to low participation rate in the plan, between highly copensated and hourly employees. He contributed the max, with catch up contribution. They kicked back over half of it, with no explanation as to why, via a letter from the Plan Manager. They notified us in July of 2024, padt the April 15th 2024 deadline. He has since left the company and rolled it to an IRA. Do we remove it, pay tax, plus pay penalty because its past the April 15th deadline? do we amend th4 2023 return or deal with it in 2024 tax return?
