PROCEDURES REGARDING EXCESS CONTRIBUTIONS
The Director shall determine whether any contribution made to a person
was in excess of the aggregate maximum to which the person was entitled.
Upon a determination of excess contribution, pursuant to §3712.1,
the Director shall notify the person in writing of the following:
The amount of the excess contribution;
The expectation of repayment to the contributor of the amount equal
to the excess contribution; and
) Repayment should be accomplished within ten (10) days of the notice.
Any person required by the Director to pay an excess contribution, pursuant
to §3712.1, may apply in writing to the Director for an extension
of time in which to repay the excess contribution.
The Director may grant an extension for a reasonable amount of additional
time for good cause to any person who files an application, pursuant
If the person disputes the Directorís determination, pursuant to §3712.1,
the person shall advise the Director in writing within seven (7) days
upon receipt of the notice issued pursuant to §3712.2.
Within ten (10) days after receipt of the personís notice, pursuant
to §3712.5, the Director shall schedule and conduct an informal
hearing, in accordance with §3709.