Yes, I already offered copies of my contribution forms to the Fidelity rep but she seemed able to view the forms and cancelled checks on her end. She agreed that the check and deposit form were dated in December 2023 and filled out correctly.It’s not uncommon 401k withholdings made at the end of the calendar year aren’t deposited with the 401k custodian until early in the following calendar year. This should be a relatively easy fix by Fidelity. While they track internally the contribution’s plan year, they don’t actually report that information to the IRS. You as the plan administrator are responsible for tracking this and reporting it on Form 5500-EZ, if required.
Seems like you could create a schedule of 2023 and 2024 contributions by plan year with the copies of your plan contribution forms attached to show Fidelity that they miscoded the 2023 plan year contribution made in Jan. 2024 as “2024” rather than “2023”.
Perhaps I am misremembering but I thought my Fidelity Solo 401k monthly statements showed the plan year in the description contributions made. If true, that’s one way to timely check that your contributions have been recorded yo the correct plan year.
According to my payroll company's records from 2023 and the 5500-EZ I filed in April I made the full $30k employee contribution in 2023. It would be outstanding if this was just a Fidelity internal issue that they could correct.
I also don't see any way to tell what year my 401k employer contributions are counted toward on my statements or on fidelity.com.
Statistics: Posted by Polaris — Sat Dec 07, 2024 10:17 am — Replies 9 — Views 557