Hi everyone,
Suppose that I contribute $4,000 to my IRA for this year. But for some reason, I'm only allowed to contribute $3,000. So my excess contribution is $1,000.
Here are my questions:
1/ Who will notify or let me know that I have an excess contribution? (IRS or the online broker that I opened my IRA account ?)
2/ How long will it take to receive a notification of excess contribution after the day I put money into my IRA account?
Thank you.
