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279I've identified 4 employees who have exceeded the HSA contribution limits for 2023. We updated codes early in the year to track single vs. family, under 55, 55 and over, and set the deduction limits to include all codes-or, so we thought, But, when I did a validation today, there were these 4 employees whose contributions are over the allowable amounts.
Since we're still in 2023 (barely), I want to issue those funds back to them. I already know how to take care of this on the bank side, where the funds are held. I just need to know how to transact it in GP 2018 Payroll.
I tried to do a negative amount for the applicable deduction codes. But, even after basing it on no pay codes instead of all, and inactivating all other deduction and benefit codes, I get $0 when I calculate checks. I've done negative deductions before for health insurance overcollected, so I'm not sure why it won't let me do it for this. Although, in those instances, there were related offsetting wages. in this case, the only amount is the excess contribution.
What should happen is the excess contribution each employee made to their HSA account is paid back, less any taxes owed on that excess. The original contribution was before tax; but, because it's an excess, the repayment should be taxable.
Any help is greatly appreciated, since I'm literally in the 11th hour!
Thank you!
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