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Withdrawing 2016 excess roth contribution in 2020 or 2021?
I made an excess roth contribution in 2016. I've paid 6% penalties for 2016, 2017, 2018, and 2019 via a 5329 which I've filed every year.
I am finally in a position to withdraw that excess and have received conflicting information about whether I can still withdraw the excess for 2020 and thus avoid the 6% penalty for that year. 1 phone rep at my IRA custodian said it is too late to withdraw for 2020, but another said I can mark the withdrawal for 2020, but I won't receive my 1099-R until next year, and she asked me to talk to a CPA for the tax ramifications of that.
I have tried calling a few tax advisors but have trouble reaching anyone and the 1 tax advisor I did reach wasn't actually able to answer my question.
Does anyone here know if an excess withdrawal for my 2016 contribution can still be made for 2020 and how that works with not receiving a 1099R until next year?