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nayobian
New Member

Why is it being reported that my HSA received an excess contribution? The plan limit is 4,150.00. There is only 1,336.79 in the account. Do I need to withdraw 1000?

 
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1 Reply
MayaD
Expert Alumni

Why is it being reported that my HSA received an excess contribution? The plan limit is 4,150.00. There is only 1,336.79 in the account. Do I need to withdraw 1000?

HSA contributions made by you and your employer are in box 12 of your W-2 with the code W, make sure you didn't enter that amount again in the HSA section. 

 

Also, the limit ($4,150 if you're under 55 at the end of 2024 and are covered by an individual (self-only) HDHP) is prorated depending on the number of months you were covered by an HDHP and had no additional health coverage.

If you were only covered by an HDHP for part of the year, your contribution limit may be lower than above limits.

 

If you overfunded or weren't eligible to contribute to your HSA in 2024, you'll need to withdraw the excess amount by April 15, 2025 to avoid a penalty (October 15 if you filed an extension).

 

Why am I showing an excess HSA contribution?

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