Your S-corp must issue a corrected W-2 (Form W-2C) if the original W-2 failed to report employee elective deferrals (code D) or Roth contributions (code AA). Elective deferrals (code D) should also have been excluded from the amount in box 1 of the W-2. If the corrected W-2 results in no change to tax liability on your personal tax return, there is need to amend your personal tax return. However, if the amount in box 1 changes as a result of an elective deferral not being previously excluded, you would need to amend your personal tax return.
