401(k) Deferral for Partner

[MarZDoates]

Partners make their salary deferral deposits in January for the 2005 plan year....(when their partnership income is determined). Employer deposited deferrals in excess of the 402(g) limit. Deposit went into the account in January, 2006. Can we use the amount of the excess toward 2006 deferrals? Both partners had draws in January sufficient to cover the excess.

Thanks.

[Bird]

Yes.