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Anybody here ever exceeded 401k contribution limit?
Posted on 1/23/14 at 6:02 am
Posted on 1/23/14 at 6:02 am
I exceeded the max by a little over $300 despite my efforts to keep it from happening. I think I should contact the plan administrator to get them to refund the excess before April 15. But is there any pain I must go through for tax year 2013 because of this? Is there a special form or somewhere on a schedule I need to report this? Oh, my contributions are roughly 40% Roth and 60% Traditional.... 
My 1000th post!
My 1000th post!
This post was edited on 1/23/14 at 6:04 am
2
Posted on 1/23/14 at 6:32 am to AthensTiger
The only time I ever exceeded the limit I was sent a check for the excess and didn't fill out anything. I didn't realize I had over paid until I received the check. Of course, taxes will be held out of the overpayment.
Posted on 1/23/14 at 8:27 am to AthensTiger
what constitutes an overpayment? How is it figured?
Posted on 1/23/14 at 8:43 am to Motorboat
$17,500 for '13
Posted on 1/23/14 at 9:01 am to TigerintheNO
shite. I overpaid by $3200. guess i need to contact the plan admin.
Posted on 1/23/14 at 9:37 am to Motorboat
It doesn't count the company match bruh.
I usually max out my 401k by the 1st of November. They just don't take anymore out after that until the first of the year... Same with social security.
I'm 32 now and I have maxed out every year since I was 23.
I usually max out my 401k by the 1st of November. They just don't take anymore out after that until the first of the year... Same with social security.
I'm 32 now and I have maxed out every year since I was 23.
Posted on 1/23/14 at 2:42 pm to Ellakennedi
quote:
It doesn't count the company match bruh.
Oh I see. Freaking BS tax code. Hard to read
Posted on 1/23/14 at 9:47 pm to Motorboat
I will find out this year. Pretty sure I will be over. My company split this year and started with fresh paycheck status in April. My taxes will be totally messed up I think.
Posted on 1/23/14 at 11:24 pm to TigerintheNO
I guess I need to ck my paystub - I probably exceeded.
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