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After you file
You can amend your 2021 tax return to delete the IRA contribution. Or you can try to get the financial institution to reclassify the contribution made in 2022 for 2021 since it was their error.
You should work with your financial institution to see if they will correct the error. Deadline may have passed but if all else fails. I suggest you amend the 2021 tax return to remove the IRA contribution.
Below is a link to IRS information regarding Trustee errors on for 5498.
Errors Made by Custodians on IRA contributions
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March 23, 2023
10:22 AM
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