Where Is the Private Plan Number on a W-2?

A Wage and Tax Statement, commonly known as a W-2 form, is a crucial document that summarizes your annual wages and the taxes withheld from your pay by your employer. This form serves as the primary record for filing your income tax returns with the Internal Revenue Service (IRS). The W-2 also provides important details concerning contributions made to various benefit plans, including those for retirement.

Locating Retirement Plan Information on Your W-2

When reviewing your W-2 for retirement plan contributions, focus on Box 12. This box reports various types of deferred compensation and other benefits not included in your taxable wages in Box 1. Box 12 displays a single or double-letter code followed by a dollar amount, allowing for clear identification of different contribution types.

For instance, “D” indicates 401(k) contributions, “E” is for 403(b) contributions, and “S” indicates contributions to a SIMPLE IRA. Roth 401(k) contributions use “AA,” while Roth 403(b) contributions use “BB.” Multiple entries may appear in Box 12, each representing a different type of contribution or benefit with a unique code and corresponding amount.

What some might refer to as a “private plan number” is not a distinct numerical identifier like an account number listed on the W-2 form. Instead, the relevant information is the specific code (like D, E, S, AA) in Box 12, which identifies the type of retirement plan, and the dollar amount representing your contributions. If more than four codes need to be reported, an employer will issue an additional W-2 form.

Understanding the W-2 Retirement Plan Codes

The codes in Box 12 of your W-2 form are standardized by the IRS and provide specific information about your financial arrangements. These alphabetical codes categorize the type of retirement plan contributions or other benefits an employee received during the tax year. For example, Code D identifies elective deferrals to a 401(k) plan, while Code E refers to contributions to a 403(b) plan.

The amounts listed next to these codes generally represent the employee’s contributions. In some cases, they may also include certain employer contributions or non-taxable benefits. These codes are important for both employees and the IRS to correctly process tax returns and ensure compliance with tax regulations.

Resolving W-2 Discrepancies

If retirement plan information on your W-2 is missing or appears incorrect, contact your employer’s payroll or human resources department. Employers are responsible for issuing accurate W-2 forms and can investigate and correct any errors. Clearly explain the discrepancy and request a corrected W-2.

If an error is confirmed, your employer will issue a Form W-2c, a Corrected Wage and Tax Statement. This form is used to amend previously filed W-2s to reflect accurate wage and tax information. If your employer is unresponsive or unwilling to correct the W-2 by the end of February, you can contact the IRS for assistance. The IRS can send a letter to your employer requesting a corrected form within ten days. Having an accurate W-2 is important for proper tax filing, so addressing discrepancies promptly is recommended to avoid potential issues with your tax return.