Thanks @dmertz and @macuser_22
I'm making a mad dash to get this deferral refunded. One more question: the overage was due to a job change in TY2019: we over contributed to the new job. Does the refund have to necessarily come from the new job's 401k plan? Or can I withdraw from the previous employer's 401k plan? Is there any chronological ordering that needs to be considered.. meaning MUST a withdraw be made from the plan that you chronologically over-contributed to?
The reason is that the new job's 401k administrator cannot move fast enough to refund by Jul15 but the previous employer can move within 1 day.
I found this on 2019 Publication 525 on page 10:
Excess deferrals. If your deferrals exceed the limit, you must notify your plan by the date re-quired by the plan. If the plan permits, the ex-cess amount will be distributed to you. If you participate in more than one plan, you can have the excess paid out of any of the plans that per-mit these distributions.
Appreciate your inputs on this ! Thanks so much!
