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Level 1

Backdating retirement plan contributions for correct W-2

I use Intuit online payroll through my QB for Mac desktop for my husband's small business (two employees - him and me). At the end of last year (12/31/19) I made contributions to our 401k plans that should be categorized as "employee contributions" and appear on the W-2s as deferred income. Because I made those contributions in a lump sum at the end of the year, they were not part of the monthly payroll calculations.

 

How do I back-date these employee contributions to ensure a correct W-2? This is something that must be adjusted from within IOP, rather than from within QB, I believe.

Thank you.

3 Comments
QuickBooks Team

Backdating retirement plan contributions for correct W-2

Thanks for contacting the QuickBooks Community, @Cleahy.


Backdating retirement plan contributions in your account is currently unavailable. Due to possible tax complications, you need to get our Payroll Care Team to perform the task. 


Corrections such as this require pulling up your account details in a secure environment. Check out this link to get our support’s updated contact information, including their operating hours: Support hours and types.


I’m adding these articles about retirement plans for future reference: Set up a Roth 401(k) plan and Retirement plan deductions/contributions.


Please let me know how the call goes and if you need anything else. I’m here to help. Take care!

Level 1

Backdating retirement plan contributions for correct W-2

Hello 

I have read that I can not correct an employees' retirement contribution from this post; However I spoke to our accountant and I was told there is way to backdate the amount withheld.. I have already printed my employees W2 and I found a discrepancy after i printed the W2s; my employee's W2 is incorrect and now I need to submit a corrected W2/W3. When I click corrected W3 I'm being asked if i have corrected they mistakes in QB before I can proceed to W3... Please explain how to correct that amount to appear  the correctly on his amended W2 ... Please help me fix our QB desktop pro 2019

QuickBooks Team

Backdating retirement plan contributions for correct W-2

Hello there, @CK Electric.

 

I'd be happy to help you correct the W-2 form through QuickBooks Desktop.

 

You can create your W-2c and W-3c in QuickBooks and print them on perforated paper only. Then, file the W-2c and W-3c manually with the Social Security Administration (SSA). 

 

  1. Go to the Employees menu, then Payroll Center.
  2. Select the File Forms tab, then choose Annual Form W-2c/W-3c - corrected Wage and Tax Statement, and Create Form.
  3. Select the employee’s last name and click OK.
  4. Select the employee(s) who need a W-2c. Select Review/Edit.
  5. Follow the on-screen steps and verify it, then check the box Check if this is a W-2c (corrected W-2).
  6. Fill in only the lines that need to be fixed in both the Previously Reported and Correct Information columns. Do this on Federal, State and local info as needed.
  7. Remove the amounts from the remaining lines. Select Override after right clicking on the amounts.

The steps above are only applicable to the users subscribed to QuickBooks Desktop Payroll Enhance version. However, if you're subscribed to QBDT Payroll Assisted, you'll need to contact us so that we will fix it for you.

 

To know more how to correct the W-3 Forms, you can check out this article: Fix an incorrect W-2.

 

Also, to get the details of your W3 for prior years, you can run Payroll Summary Report

 

Feel free to leave a comment below if yo have other questions. I'd be happy to help you further. Have a good one!

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