Hello..Need your advise..
I got a distribution check from ADP for 2021. It has wording of "You are receiving this distribution as a result of your plan's failure to satisfy one or more annual nondiscrimination compliance tests required under the Internal Revenue Code'.
I talked to employer and came to know as this is new plan which just started in the last quarter of 2021 my contributions exceeded the limit. Looks like I will be getting 1099-R for 2022 which I will be reporting it in the next yr taxes.
My employer mentioned that they will NOT reissue W-2 for 2021 even though it has incorrect amounts in the BOX #12. Is this okay? Should I go ahead and file the taxes for 2021 using the existing W-2?
Could you please advise?
Thanks!
