You can show your financial institution the Form 1099-R instructions:
"Roth IRA. For a distribution from a Roth IRA, report the total distribution in box 1 and leave box 2a blank except in the case of an IRA revocation or account closure and a recharacterization, earlier. Use Code J, Q, or T as appropriate in box 7. Use Code 8 or P, if applicable, in box 7 with Code J. Do not combine Code Q or T with any other codes.
However, for the distribution of excess Roth IRA contributions, report the gross distribution in box 1 and only the earnings in box 2a. Enter Code J and Code 8 or P in box 7."
Or Form 1099-R instructions page 11 PFD (bottom left)
An excess deferral is an excess contribution to a work retirement plan like the 401k. A Form 1099-R with code P only would indicate the return of the excess deferral and would be listed on line 1h of Form 1040. Returned excess Roth IRA contributions have to be listed on line 4 of Form 1040.
You had no earnings and therefore you won't see an entry on Form 5329 line 1 and 2.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
