I'm a little confused how I should be reporting my excess contribution for my Roth 401K. I'm trying to avoid any possible penalties. Though the amount isn't significant, I want avoid any potential issues in the future. Here is where I am at:
1) I over-contributed to my ROTH 401K in 2019 by $102.45. All my contributions for 2019 went to my ROTH 401K plan.
2) Fidelity, who manages my 401K, had me wait until I got my W2 forms in 2020 before I can request a return of excess contributions.
3) I submitted the form to Fidelity mid January 2020 and received a check for the excess contribution plus the earnings dated February 4, 2020. However, according to them, my employer would only return the funds from the pre-tax funds (not Roth) from my 401K. (I was employed with this company in 2016 and had Traditional 401K contributions through Fidelity under the same account).
I confirmed with Fidelity that I will not be getting 1099-R forms for 2019. I will be receiving it in 2021 for the 2020 tax return.
My question is, am I done until next year or do I have to do something on my 2019 return? If so, how can I report that I made the corrections in my 2019 year? I would think that if I do nothing, they will assume that I never corrected it and would be subject to penalties. Thank you!
