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If my employer will not make a corrective distribution for an overfunded 401K, do I keep the additional contributions in 401(k)s and report overfunded 9K as other income?
Overfunded 401(K)s in 2017 because I had two jobs: Deferred $9K at 1st job. Deferred $18K plus $31K in defined contributions at 2nd job. I'm over the 2017 $18K limit for deferred contributions and the $54K limit for total contributions. Neither employer will make a corrective distribution since "accounting year is closed."
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‎June 4, 2019
5:46 PM