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Message
Overpayment notice regarding 401k rollover
Posted on 7/17/17 at 2:53 pm
Posted on 7/17/17 at 2:53 pm
Well, this is a first for me. I rolled over my 401k to my new employer a little less a year ago. I get a letter today by snail mail, not by registered mail, telling me that they made an accounting error and misclassified $2,827.16 as vested match contributions.
They are requesting I notify my new employer's plan and have them send it back to them. However, the last sentence also states, "In the event I do not hear from you, please be aware that the amount of the Overpayment should have been reported as income that is taxable."
So, do I send this back to them, or include this as taxable income in a revised tax filing?
How do I know this is accurate and their earlier distribution wasn't, or vice-versa? Just take their word for it?
They are requesting I notify my new employer's plan and have them send it back to them. However, the last sentence also states, "In the event I do not hear from you, please be aware that the amount of the Overpayment should have been reported as income that is taxable."
So, do I send this back to them, or include this as taxable income in a revised tax filing?
How do I know this is accurate and their earlier distribution wasn't, or vice-versa? Just take their word for it?
4
Posted on 7/17/17 at 3:27 pm to HubbaBubba
Leave that shite be and see what they do. They are responsible for doing the leg work to clean up their mistake, not you.
Posted on 7/17/17 at 3:35 pm to LigerFan
Unless and until I receive an amended 1099-R, I don't think I should do anything. I've been wrong before, but how am I supposed to trust that they're right, THIS TIME?
Posted on 7/17/17 at 3:38 pm to HubbaBubba
Sounds like phishing scam
Posted on 7/18/17 at 9:50 pm to HubbaBubba
My husband switched jobs last year and accidentally went over as well. We didn't discover the mistake until we did our taxes this year. We ended up just having to pay on the overage
Posted on 7/19/17 at 4:01 am to CorkSoaker
That's a different situation.
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