Sorry for the confusion. I’m talking about excess contribution on the 401k. By brokerage I meant Fidelity. There are plenty of online articles that mention 6% penalty if the excess is not removed before April 15. TurboTax pop up also mentioned this 6% penalty if the excess is not removed before the tax day. It is not clear if this 6% penalty would only be one time OR each year until the excess stays in the account?
