A contribution to a retirement plan sponsored by an employer of an amount that is greater than the allowed amount for tax-deductable contributions to that plan for a given period of time. Excess deferrals are typically returned to the employee and taxed in the year the money was earned.
Related information about excess deferral:
- Excess Deferral - Financial Dictionary - The Free Dictionary
Contributions to an IRA, 401(k), or other tax-deferred account over and above the limits on what may be deferred. Most plans place limits on how much can be ...
- Correcting Excess Deferral - McKay Hochman Company, Inc.
Distribute excess deferral and income thereon by April 15th after close of calendar year. Caveat: do not include catch-up contributions in the calculation or ...
- Retirement Topics - What Happens When an Employee has Elective ...
Aug 3, 2012 ... If the employee withdraws the excess deferral by April 15, the withdrawn amount is not reported again as part of the employee's gross income ...
- 401(k) Resource Guide - Plan Participants - Limitation on Elective ...
Oct 22, 2012 ... If you withdraw the excess deferral for 2012 by April 15, 2013, it is ... However, any income earned on the excess deferral taken out is taxable in ...
- Publication 571 (12/2011), Tax-Sheltered Annuity Plans (403(b) Plans)
If you have excess deferrals for a year, you may receive a corrective distribution of the excess deferral no later than April 15 of the following year. The plan can ...
- Fixing Common Plan Mistakes - Excess Deferrals
Aug 15, 2012 ... In that case, the excess deferral need only be reported as taxable income ... Refunded earnings attributable to an excess deferral must also be ...
- What is excess deferral? definition and meaning
Definition of excess deferral: A contribution to a retirement plan sponsored by an employer of an amount that is greater than the allowed amount for ...
- Excess deferral | Retirement Dictionary
Mar 22, 2009 ... Excess deferral contributions should be corrected by April 15 following the close of the taxable year. The distribution should include any income ...