There are many articles that confuse IRA rules with 401(k) rules. Many articles will also tell you that you have until the due date of the tax return to remove the excess, which is also wrong (the April 15 date is set by law as the deadline and just happens to coincide with the normal April 15 filing date, but if the filing date is changed the April 15 date for excess removal remains the same). Those articles are incorrect. Use official IRS publications for accurate information.
Both of these are stated in IRS Pub 525 and there is no 6% penalty.
For information see IRS Pub 525 page 10 "Excess not distributed" and "Excess distributed to you.".
https://www.irs.gov/pub/irs-pdf/p525.pdf
**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.**
