If you discover it after you've filed your tax return
You can either:
- Remove the excess within 6 months and file an amended return by October 15—if eligible, you can also remove the excess plus your earnings by this date.
- Remove the excess once discovered, even after October 15. You'll need to reduce next year's contributions by the excess amount. For example, if your limit is $6,000 and you exceed it by $1,500 in the current year, you can offset the excess by limiting your contributions to $4,500 the following year.
