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  1. #1
    Join Date
    Dec 2010

    Default Lump-Sum Pension Overpayment

    This month I received a letter from the pension plan administrator stating that an error has been found in the calculation of the lump-sum benefit that was paid to me in August, 2006, as a result I was overpaid 20596.00 dollars As it was explained to me during a telephone conversation, the error was a result of counting 2 years of part time work as full time work. The entire lump-sum was rolled into an traditional IRA.

    I have determined, from other advice, that If I pay this back, it should be done thru an amended 2006 tax return.

    My question is since over 4 years has elapsed from the time the lump-sum payout was made should I challenge the request for payment?

  2. #2
    Join Date
    Jul 2007

    Default Re: Lump-Sum Pension Overpayment

    If you pay the money back in 2010 (or 2011), you have no basis to amend your 2006 return. Other than that, I can't see a tax question in what you've said.

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