Just wanted to confirm - In the current year (2019), I contributed more that $6000, in fact almost double by mistake, as I did not realize my employer was deducting as well, I have both 401k and Roth 401K in the same account.

Will have to pay 6% penalty if I withdraw the excess contribution in the same year, i.e., before 12/31/2019? Are their any forms?

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    Why are you talking about 401(k)? IRAs and 401(k)s are different. Roth 401(k) contributions are not Roth IRA contributions. And Traditional 401(k) contributions are not Traditional IRA contributions. Employers generally do not contribute to IRAs; you individually contribute to IRAs. – user102008 Nov 3 '19 at 18:17
  • Got it. The 401k plan that I invest also gives me a Roth 401k feature. I contributed 5% in 401k and 8% in Roth 401k. The Roth 401k was way above $6000, which I thought is similar to any Roth, e.g., I have been contributing to Roth IRA offered my bank as well. It seem Roth 401k and 401k can have combined $19000 limit and Roth IRA has $6000 limit. Then I do not have to worry. – marc Katz Nov 4 '19 at 1:09
  • I have another question, what is the benefit of investing in both 401k and roth 401k plan within my 401k plan and also invest separately in Roth IRA ? – marc Katz Nov 4 '19 at 1:13
  • We can't answer that question for you without knowing a lot more. You should seek the assistance of a professional or do more reading on your own. The usual reason to make contributions to both Roth and Traditional IRA or 401k accounts is to provide you with options on the tax treatment when you eventually take distributions from the accounts. – Todd Nov 5 '19 at 5:04

The details of your questions are confusing.

In 2019 there is a $19,000 employee contribution limit for 401k plans. That amount can be split between either traditional or Roth 401k. An employer's matching contribution does not count toward that limit.

Separately, there is a $6000 limit for IRAs, which can also be split between traditional and Roth.

If you contributed $6000 to your personal Roth account, and at work you contributed $6000 to your Roth 401k, there is no excess contribution.

Assuming you have had the same employer all year, it's very unlikely that they and their 401k custodian would have let you contribute too much to the 401k plan.

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    you might want to clarify the 19k$ is the limit for your contribution - the employer contribution goes extra, and the total limit is 55k$. – Aganju Nov 3 '19 at 20:35

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