i made excess roth IRA contributions in 2023 and 2024 and it is now past the due date. to fix this do i need to withdraw the principal or the principal+earnings?

[MaxA1]

You will need to withdraw the excess principal and the earnings associated with the excess principal.  Here's some helpful links that give more information on excess ROTH contributions and what to do to avoid (further) penalties:

• What if I made an excess Roth IRA contribution because my income is too high?
• Where do I find Form 8606?

[fanfare]

after tax due date including extensions: you withdraw  the excess amount being carried forward on Form 5329,
(or offset it with currently allowed contribution) .
Amended return(s) will be needed supplying that Form 5329 since there is a 6% penalty per year on accreting excess contributions .
Earnings stay in the Roth account.

@will-schachterle 

P.S.

Beware TurboTax Experts.

[will-schachterle]

this is the advice for a recharacterization, a timely withdrawal and transfer to traditional IRA? is this also the advice for an untimely withdrawal?

i have missed the due date and numerous resources (including other reply in this thread) say withdraw principal, pay 6% excise, and leave earnings in ROTH. I just did this response from TurboTax that seems to say leave earnings in ROTH.

What if I made an excess Roth IRA contribution because my income is too high?

by TurboTax •  350

Updated December 18, 2025 3:38 PM

Your Roth IRA contribution may be an excess contribution, depending on your modified adjusted gross income (MAGI). TurboTax will check for this. There’s a 6% per-year penalty on an excess amount for as long as the excess is in the account.

You can either fix an excess contribution before the tax filing deadline (including any filing extensions), or pay the 6% penalty.

To avoid the penalty before your tax filing deadline:

• Withdraw the excess contribution plus earnings:

  • The earnings are included in your taxable income for the year the excess contribution was made.

  • You’ll still receive a 1099-R to report these earnings on your tax return.

• Or you can recharacterize the Roth IRA contribution as a traditional IRA contribution:

  • Contact your plan administrator for guidance on this process.

  • After your recharacterization, see how to do this in TurboTax

If you’re paying the penalty you can:

• Apply the excess to next year. You can:

  • Leave the excess contribution in the Roth IRA

  • Apply it to next year’s contribution

  • Ensure you cover this when figuring out your contribution amounts for next year.

• Or, remove only the excess contribution after your tax deadline. After you file:

  • Request a regular distribution between October 17 and December 31, 2026.  This is to remove the excess contribution- without earnings.

  • You’ll keep the earnings in the Roth IRA account.

  • You'll take the 6% penalty on the 2025 return.

  • You'll avoid the penalty on next year’s tax return.

Check the Roth IRA contribution limits for 2025 and 2026 to avoid future excess contributions based on your filing status and MAGI.

[fanfare]

You cannot do a recharacterization after the tax due date, including extensions

@will-schachterle 

[will-schachterle]

thanks, yeah. I'm trying to figure out situation where I cannot recharacterize because it's too late.

[fanfare]

You have to amend 2023 and 2024 tax return to add Form 5329

and include 2025 Form 5329 with your current tax return.

@will-schachterle 

[fanfare]

your penalty also appears on Schedule 2 Line 8

and Form 1040-X Line 10 Col B and C.

You can do the Form 1040-X manually if you are not form-challenged.

You don't need to attach any Form 1040.

@will-schachterle