Thanks for such a prompt attention to my question and sharing the IRS link too.
Can you please also answer the following:
- Will I be able to withdraw only the excess contribution from my 401-K or I will have to also withdraw any associated earnings?
- Since the contribution were made on a pre-tax basis does it also mean that my employer must amend W-2 for this year-2019 to show the excess deferral amount as taxable wages?
- Based on your response I feel amending W-2 may not be needed as Turbo Tax can help in reporting wages not already on W-2 or Form 1099. But once I withdraw the fund from 401-K will I not receive 1099-R which my understanding is reported to IRS?
