Definitions for "excess contribution"
Keywords:  hce, ira, adp, excise, penalty
The amount by which an IRA contribution exceeds the allowable limits, on which the IRS applies a penalty.
In qualified retirement plans, that a contribution to an IRA that exceeds the deductible limits or that is made by or for the benefit of an ineligible IRA participant, subject to a penalty tax. Under a qualified Keogh plan, contributions made by an employer in excess of the contribution formula limit in the plan for self-employed individuals and/or common-law employees. Subject to an annual excise tax against the employer.
The amount by which an IRA contribution exceeds the allowable limits. If an excess contribution is not properly corrected, a 6% IRS penalty applies.
Keywords:  kurtosis, profits, tax, exchange, fund
Excess kurtosis Excess profits tax
excess profits tax exchange fund