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Excess contribution

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Excess contribution
The amount by which an IRA contribution exceeds the allowable limits. If an excess contribution is not properly corrected, a 6% IRS penalty applies.

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For a plan that uses corrective distributions of excess contributions to cure a failed ADP test, the regulations permit plans to allow highly compensated employees to elect whether excess contributions are attributable to designated Roth contributions or to pretax elective deferrals.
Contribution deficiencies or excess contributions of the employer--A contribution deficiency or excess contribution is the difference between the ARC for a given year and the employer's contributions (13) in relation to the ARC.
 
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