Rebecca Ennis Posted January 13, 2021 Posted January 13, 2021 I have an employee that had an excess contribution in 2020. We will be assisting in getting the amount refunded by Fidelity using their Return of Excess Contribution form. It is my understanding that the employee will receive the amount directly from Fidelity and a 1099-R will be issued by Fidelity. My question is are we required to correct the employee's 2020 W2? This is a new role for me and I am a one person show. I appreciate any guidance.
BG5150 Posted January 14, 2021 Posted January 14, 2021 Do not adjust the W2. Luke Bailey and Bill Presson 2 QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
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