Author Topic: 401k contribution  (Read 2573 times)

vivophoenix

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401k contribution
« on: January 29, 2016, 06:13:19 AM »
if my employer put my 401k contribution for 2015 in my account in 2016.

what tax year does this contribution count towards?

RWD

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Re: 401k contribution
« Reply #1 on: January 29, 2016, 10:26:12 AM »
This should be clearly indicated on your paystubs and W-2. I'm not exactly sure of the scenario you are describing, but I suspect the contribution will count towards the 2016 tax year.

lsl129

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Re: 401k contribution
« Reply #2 on: January 29, 2016, 09:27:17 PM »
The same thing happened to me. I called both the investment firm and my company payroll and can't get a clear answer. It was taken out of my 2015 check but the total shows up as being contributed in 2016. They told me that it counts toward 2015 but there is no way for them to report it correctly and I need to just subtract the contributions from the 2016 total. I won't know for sure until the end of this year. Frustrating, but I don't know that it matters much in the long run.

MDM

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Re: 401k contribution
« Reply #3 on: January 29, 2016, 11:44:45 PM »
If your paycheck was dated in 2015, then your 2015 W-2 should show the 401k contribution occurring in 2015, and thus it counts toward your 2015 contribution limit.

Employers are given some amount of time between deducting the amount from your pay and sending it to your 401k investment account, but the controlling date is the date of your paycheck.

At least, that's been the conclusion all the other times this has been discussed - don't recall if there is a specific citation to confirm.

Guava

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Re: 401k contribution
« Reply #4 on: January 30, 2016, 08:13:38 AM »
This happens to me every year and it always counts toward the previous year, when your paycheck was actually paid.