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HSA Employer Contribution Correction FormInstructions: Use this form for Contribution Correction errors only. Once Completed and Signed, Email to HSA@AvidiaBank.com or mail it to: NVIDIA Bank P.O.
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How to fill out hsa excess contributions

01
To fill out HSA excess contributions, follow these steps:
02
Calculate your HSA contribution limit for the year.
03
Determine the total amount you have contributed to your HSA for the year.
04
Subtract the contribution limit from the total amount contributed to find out if you have excess contributions.
05
If you have excess contributions, you need to withdraw the excess amount before the tax filing deadline.
06
Report the excess contributions on IRS Form 8889 and attach a statement explaining the withdrawal of excess contributions.
07
Pay any applicable taxes or penalties on the excess contributions.
08
Keep records of the withdrawal and any related documentation for future reference.

Who needs hsa excess contributions?

01
Individuals who have made contributions to their HSA that exceed the annual contribution limit may need to deal with HSA excess contributions.
02
This can happen if someone accidentally or unknowingly contributes more than the allowed limit for the year.
03
It is important to address excess contributions to avoid potential tax penalties and complications with the IRS.
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HSA excess contributions refer to the amount contributed to a Health Savings Account (HSA) that exceeds the annual contribution limits set by the IRS.
Individuals who have made contributions to their HSA that exceed the annual limit are required to file HSA excess contributions.
To fill out HSA excess contributions, taxpayers should report the excess amount on Form 5329 and submit it with their tax return.
The purpose of reporting HSA excess contributions is to ensure compliance with IRS regulations and to determine any penalties associated with the excess amount.
The information that must be reported includes the specific amount of excess contributions, the tax year they apply to, and any distributions made to correct the excess.
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