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Excess Salary Deferral to 401K

I changed job last year and over contributed. Old job I contributed $2,000 and new job I contributed $23,500. I moved old job 401k of $2000 to my Traditional IRA.  Which is easier to do? What have you seen people do more? Is it tell my new employer the excess and they refund me or move the $2,000 out of my Traditional IRA. Thanks 

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1 Reply
RobertB4444
Employee Tax Expert

Excess Salary Deferral to 401K

You need to pull it out of the same account to which you over contributed.  Whichever one that is.

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