Missed Catch-UP Contribution

[Guest qualified plan]

It was recently discovered that a 401(k) plan failed to honor a participant's 2002 401(k) Catch Up Contribution election.

What is the proper correction?

I assume a QNEC, but for how much?

Thanks.

[TBob]

Had the participant maxed out their regular deferrals at the 402(g) limit (or had been otherwise limited by ADP, etc.)? I would assume so if the participant is making a catch-up election but it is worth asking before you start looking at corrections.

[Guest qualified plan]

Yes, the participant maxed out on their regular deferrals at the 402(g) limit.