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Form 5330 for excess contributions


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Guest Pat Metallic
Posted

An employer recently submitted revisions to 2006 census data. Originally the ADP test passed; but with the census revisions, it fails. Therefore, we have excess contributions from the 2006 plan year that won't be corrected until 2009. In calculating the excise tax, is one Form 5330 sufficient (i.e. 2009) or is a Form 5330 needed for each year that the correction of the excess contribution is late (i.e. 2007, 2008, 2009)?

Thanks.

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