NHCE ADR is 5%, so HCE can defer 7% plus $5,500 catch-up.
HCE has already deferred $22,500. Let's call his compensation $150,000. So, he's only allowed deferrals of $16,000.
From what I read, I can not refund before year end.
So, the question is, does the 2013 W-2 show Box 1 wages of $127,500 and Box 12 deferrals of $22,500? And then, in 2014 there's a Form 1099-R with the refund (plus earnings) of $6,500?