The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Contributions over Limit Date:  12/11/2001  2:09 PM
Author:  drking Number:  32797 of 91094

My employer's payroll department has messed up and has routed more than $8,500 into my deferred compensation account for this year. Before the mistake is rectified I suspect there will be close to $12,000 in contributions for this year.

Has this happened to others? How soon do I have to take care of this before IRS gets involved? What are penalties? Thanks for comments.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us