If you re-characterize your return this year you will not have any penalties. The restrictions are placed on (re)re-characterizing it to a Roth IRA from a Traditional IRA. If you re-characterize now, you will not receive any paperwork relative to the move until next year.
Roth IRA contributions are not reported on your Tax Return. You do not report any activity from your Roth until you withdraw funds. This is the case whether or not it is a planned distribution or an early distribution.
For more information regarding Roth IRA Rollovers please click on the link below:
https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-recharacterization-of-roth...
