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Correcting Pension or Retirement Plan Contributions

An error in reporting an employee's pension or retirement plan contributions can affect their taxable income and retirement savings. A W-2c must be filed to correct the reported amounts in Box 1 and Box 12, ensuring the employee's tax records are accurate.

Step-by-Step Instructions

1. Open W2Correction Mate and either create a new company or open an existing one.
2. Click on the W-2C Forms Tab and then click Add W-2C Form.
3. Enter employee details.
4. In the "Previously reported" column, enter the original amounts from the W-2, especially in Box 12.
5. In the "Correct information" column, enter the correct amounts that reflect the corrected contributions. Box 1 may also need to be adjusted.

6. Click Save.
7. To print the employee's copy, select the W-2C Forms tab, select the employee from the list, click Print. In the dialog, select "Copy B—To Be Filed With Employee’s FEDERAL Tax Return".
8. To print the SSA copy, select the W-2C Form tab, select the employee from the list, click Print. In the dialog, select "Copy A—For Social Security Administration".
9. To e-file, select the Summary W-3C Form tab, and click E-File W-2C / W-3C Forms. Fill out information in the dialog, and click the Click here to review the W-3C form button. Click the I have reviewed the W-3C form box. Click OK. Once you create the e-File, you need to upload to the SSA BSO website.
10. Distribute the corrected form.

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Disclaimer: All tutorials provided are for informational purposes only. Please consult the IRS, your state department of revenue, or a tax professional for official advice and guidance regarding tax matters, including W2 corrections and W-2C filing.