Can excess 529 contribution be reversed within same tax year?

[user314]

Yesterday I contributed $20,000 to my son’s 529, and I then remembered the $16,000 annual gift tax limit.  Since I’m still within the same tax year can I correct this to keep the contribution under the $16,000 limit.

Possible solution I’m thinking about:

Withdraw the $4,000 (in the same tax year).

Ask my plan provider to do a “correction” (if that’s a thing) to adjust the money transfer to $16,000 and send back $4,000 of it.

Have my domestic partner, the beneficiary’s mom, write me a check for $4,000 to reimburse me for her share of the contribution, and just call this a joint contribution from both of us.

Would any of those work?  Any other idea to fix this without a form 709 or doing the 5 year contribution?  Thank you.

[Mike9241]

a contribution is considered a completed gift. you can't take back a gift.  (it's the legal challenges rather than any tax challenges) that leaves is filing form 709 or the 5-year route which also requires filing form 709. 

[Critter-3]

Contributions to a 529 plan for a dependent is not limited by the annual gift tax rates (since it is not a gift)but by the 529 plan annual limitations.  Check the 529 plan rules for your state.