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Over-funded HSA Issue

1,165 Views | 1 Replies | Last: 5 yr ago by P.H. Dexippus
agstudent
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AG
When filing my taxes, I realized that my HSA had been over-funded by < $100 last year, so I needed to pull that excess contribution out. The problem is, my company switched HSA providers at the beginning of the year and rolled our old accounts over. Now, the new provider is telling me that since I didn't make any contributions with them during 2018, they can't return my excess contribution. What am I supposed to do?
Casey TableTennis
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AG
You should be able to apply the excess to 2019. There is probably a penalty you pay, but the small cost is better than the hassle of correcting it.

Assuming the above is correct, be sure to adjust your 2019 contributions so that you account for any employer contributions and the amount applied forward.

Hopefully a CPA will be along soon to confirm how to handle this, but I don't see it being a big deal.
P.H. Dexippus
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AG
I believe the penalty for overfunding is 6% on the excess amount. $6 probably isn't worth the hassle. *im not a tax professional*
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