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Anonymous
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Year end 401k company contribution

I need to add a company 401k contribution for eligible employees before the end of the year. Any ideas on how to do that properly so it appears on the W-2? Thanks.

1 Comment 1
Anonymous
Not applicable

Year end 401k company contribution

Thanks for taking the time posting here in the Community, @Anonymous,

 

I can help you set up the 401K contribution in Intuit Online Payroll.

 

Adding a new contribution can be done in just a few clicks. Let me guide you through the steps:

  1. On your Intuit Online Payroll profile, go to the Employees tab.
  2. Click the employee name.
  3. Go to the Deductions & Contributions box and click Edit.
  4. Click Add a Company Contribution in the Company Contributions section.
  5. Under Contribution, choose 401K-401(k).
  6. Enter the Amount per period and the Annual maximum.
  7. Click Save.

You may refer to this article to know more about setting up the setting up aretirement contribution: Set Up Company Contributions to a Retirement Plan

 

Also, this contribution is reported in box 13 of your employee's W-2. You may want to check this article to check how your taxes are reported on your Federal forms: 

Supported Pay Types and Deductions in Online Payroll

 

That should get you all set with your 401K contribution, @Anonymous. Let me know if there's anything else you need help with QuickBooks. I'm here to help you out anytime.

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