Due to having multiple employers in 2022, I exceeded my 401k contribution limit. I requested a refund of the excess deferrals, but because the plan provider is backlogged on requests they may not process my refund in time for 2022 tax filing.
Per these threads (401k overcontribution and What if I have a 401(k) excess deferral?) I understand the process assuming the refund is issued on time, but what about if the refund ISN'T issued on time? Is it still the same process of adjusting the box 12 amount to meet the contribution limit and adding the excess under Miscellaneous income? Is the only difference that for 2023 tax filing, I add the excess again as well as any earnings (presumably based on the 1099-R form issued for the refund) to be taxed a second time as a penalty for the late withdrawal?
