Guest Giovanni Posted January 24, 2005 Posted January 24, 2005 I know this seems insignificant, yet I was wondering what others would do in a similar situation. An employee in a 401(k) plan who is over age 50 deferred $16,000.14 in 2004. Should I ignore it? Tell the Employer to refund $.14? Where do you draw the line? $.01? $.14? $.50 $1.00?
Bird Posted January 25, 2005 Posted January 25, 2005 I draw the line somewhere north of $.14. Exactly where, I'm not sure. Ed Snyder
Guest annieap1 Posted January 25, 2005 Posted January 25, 2005 I may be off base, but if you rounded all the deferrals for testing purposes, then you wouldn't have an issue because you would round down to $16,000. Personally, I wouldn't be concerned about returning $0.14.
RCK Posted January 25, 2005 Posted January 25, 2005 The interesting question for me is what happens if the employer puts $16,000.14 in Box 12 of the W-2. RCK
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