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david4286608
Returning Member

file amended return by October to fix Roth contribution with refund delayed

Hello,

 

I have already filed my 2021 return in March. The IRS website said that it could take up to 6 months to process returns like mine because it involved 1042-S. 

 

I am in a rush because I made excessive contribution to my Roth IRA in 2021 and am hoping to correct it by October 15 to avoid 6% penalty. But I cannot file an amended return before my original return is processed. What if my original return is not processed until after the extended deadline? Then I would be forced by IRA to be late? 

 

Is there a solution?

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1 Reply

file amended return by October to fix Roth contribution with refund delayed

The solution is to fix the excess contribution situation  timely and then wait to amend the return until the original return has fully processed.  Nothing is stopping you from correcting the contribution situation before you can amend the return. 

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