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  1. Guest
    I have a Daily Valulation platform 401(k) plan that imposes a 10% deferral limit to HCEs. They have two HCE employees who exceeded this limit in the 2013 plan year. #1 - Should these excesses be processed and 1099'd like a 402g violation? (Process by 4/15/14; excess amount taxable in year deferred and 1099'd with tax code P; applicable gain taxable in year distributed and 1099'd with tax code 8) or #2 - Should this excess be processed as an EPCRS type correction? (process the excess amount adjusted for gain loss and report the total with tax code E.) The information I have found in the ERISA outlines and the 1099 instructions seem to lean toward #2 but wanted to see if anyone can provide definitive guidance. Thank you.
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