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Salary Reduction AgreementAdditional Contributions Sheltered (ACTS) Program for PEERS members 403(b) Program for Alternate Benefit Program (ABP) members Name ___ LastFirstMiddle InitialEmployee ID
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The additional contributions tax-sheltered acts are contributions made to a tax-sheltered account that exceed the annual limits set by the IRS.
Individuals who have made contributions to tax-sheltered accounts that exceed the annual limits are required to file additional contributions tax-sheltered acts.
To fill out the additional contributions tax-sheltered acts, individuals must accurately report the excess contributions made to tax-sheltered accounts and any relevant information requested by the IRS.
The purpose of the additional contributions tax-sheltered acts is to ensure that individuals who exceed the annual contribution limits to tax-sheltered accounts are properly identified and any necessary penalties are assessed.
The additional contributions tax-sheltered acts must include details of the excess contributions made to tax-sheltered accounts, along with any supporting documentation requested by the IRS.
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