Your 2022 and 2023 tax returns needed to show the excess contribution on Form 5329 Part IV and the 6% excess-contribution penalty needed to be paid for each of those years. If your 2023 and 2023 tax returns have Form 5329 prepared properly, there is nothing to amend. Otherwise, you must amend those tax returns to include the Forms 5329 and pay the penalties.
The excess $700 should have carried forward to your 2024 Form 5329 line 18 and the distribution will then be on line 20 to be subtracted from the excess, with line 24 showing $0.
