excess contribution

excess contribution definition - business

excess contribution

The amount by which a contribution to a retirement program such as an IRA or 403(b) plan exceeds the allowable limit. Without correction, an excess contribution results in an IRS penalty.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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