An excess IRA contribution occurs when you contribute more to your Traditional or Roth IRA in a given year than the IRS allows. If you do not remove the excess within six months of of the original due date of the return you pay a 6% excise tax per year until the excess contributions are removed.
So since the excess contributions are for tax year 2017 and 2019, you have paid the 6% excise tax each year the excess remains. Since this is an untimely correction, the IRS does not require an earnings calculation, so you will not need to remove the earnings
You will receive a 1099-R for 2024 that will be reported to the IRS, that will reflect the removal of the excess contributions for 2017 and 2019. So get the money out ASAP.
Thanks again for the question @Kdebner
All the best,
Marc
Employee Tax Expert
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