@bigTX wrote:
Do I need to send in a 5329 (with check) to address the fact that I did not remove the excess contribution during the calendar year of 2019?
..."(in my case not withdrawn by April 15th 2018 or by the extended October 15, 2018 deadline) then I only need to remove the excess contribution and any gains can remain in the Roth IRA.
Yes, you need to file a 2019 5329 (that can be mailed by itself) and pay another 6% penalty for 2019.
Correct. Removing the earnings prevents the 6% penalty but only if removed before the due date. Paying the penalty allows the earnings to remain in the IRA.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
