Excess Deferral Correction

I am doing research on correcting excess deferrals for 457(b) plans. 

If you discover the excess deferral prior to the April 15th deadline and distribute accordingly, what is the corrective action? Does the employer have to issue a new W-2? Are there any other forms you need to submit? 

1099 coded as taxable in the year of the excess deferral for a governmental 457(b).  A new W-2 is not required. W-2 is required for a distribution on a tax-exempt 457(b). 

@Madison71 Thank you for the response. Follow up, if the plan is a non-governmental tax-exempt entity, the corrective action is a new W-2 instead of a 1099? 

You’re welcome.  Any distributions including corrective actions on a non-governmental 457(b) plan is reported in the W-2.  There is no reporting on the 1099 for these plans.  Have a nice day