One of our employees has had a problem with her SIMPLE IRA account, and we are unable to process her Dec 2018 contributions. How do we roll back these contributions?
Our SIMPLE IRA provider is unable to accept her contributions, and the former employee is not responding to our attempts to contact her to resolve the situation.
For the contributions for 2019, backing them out is relatively simple. For the December contributions, however, it is in the previous year and her W2s and related forms have already been submitted.
The total amount involved is low ($11.40 for employee, $11.40 for employer match).