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Taxpayers Generally Comply With Annual Contribution Limits for 401(k) Plans; However, Additional Efforts Could Further Improve Compliance

Report Information

Date Issued
Report Number
2019-10-002
Report Type
Audit
Joint Report
Yes
Participating OIG
Treasury Inspector General for Tax Administration
Agency Wide
Yes (agency-wide)
Questioned Costs
$0
Funds for Better Use
$0
View Report

Recommendations

The Acting Commissioner, Tax Exempt and Government Entities Division, should identify and provide guidance to 401(k) plans that potentially allow taxpayers to exceed annual contributions limits.

The Commissioner, Small Business/Self Employed, should take actions to bring taxpayers who contribute more than the annual limit to multiple 401(k) plans into compliance with the law.