Vanessa A
Expert Alumni

Retirement tax questions

From the tax side, you would potentially be subject to double taxation on that money if not withdrawn before the tax filing deadline.  It is taxed both when you should have been taxed on it if not for the overcontribution and again when you get a distribution from it.  Also, generally, it takes more than a few months to vest in a plan, so the extra you received in matching funds could potentially be wiped away.  

 

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