The penalty is 6% per year for each year the disallowed contribution Cn is not removed by Dec 31.
SUM [ ( 6% x Cn ) x n ] sum over n
where n is from 18 to 1 by -1
and
Cn is the contribution you made in Year (2024- n )
If SUM ( Cn ) is removed in 2024 there is no penalty for 2024.
Any earnings you got on this money will remain in the Roth IRA.
@gday111
