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Correcting 401(k) Plan Excess Elective Deferrals
Verrill Dana LLP Link to more items from this source
[Guidance Overview]
Feb. 23, 2022

"Unless they are timely distributed, excess elective deferrals are in included in a participant's gross income for the year in which they were made to a plan, and for the year in which they are distributed from the plan. A distribution of excess elective deferrals is reported on IRS Form 1099-R (not on Form W-2 or a corrected Form W-2)."

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