BG5150
Oct 1 2007, 02:35 PM
For the late distribution of ADP failure, how much is subject to the excise tax: the gross amount that would satisfy the test, or that amount net of earnings/losses? I need to know how much to put on the 5330 for the plan.
R. Butler
Oct 1 2007, 03:16 PM
The excise tax is on the excess contribution (or excess aggregate) amount. See page 10 of the 5330 instructions.