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Returning Member
posted Sep 22, 2025 4:03:59 PM

Form 5329 rules for timing of excess removal

Hi,

I made excess contributions to Roth IRA and have been paying 6% excise penalties since 2020. However, I didn't pay this penalty for the tax year 2023. Because I removed the excess on 3/18/2024 just before the 2023 tax deadline of April 15th 2024. 


Do I still have to pay the 6% penalty for 2023 year also (now through amendment)?

OR

Am I all set?

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