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srutsth
New Member

I am filling the HSA Excess Contribution Removal Form. What do I write in the field of Earnings on Excess?

 
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4 Replies

I am filling the HSA Excess Contribution Removal Form. What do I write in the field of Earnings on Excess?

Report any earnings like interest received on the excess contribution. 

srutsth
New Member

I am filling the HSA Excess Contribution Removal Form. What do I write in the field of Earnings on Excess?

I exceeded HSA contribution by $1105.71. Could you please explain what do you mean by interest received in excess contribution? 

I am filling the HSA Excess Contribution Removal Form. What do I write in the field of Earnings on Excess?

You over contributed a certain amount of money. That amount plus any earnings generated by that over contribution must be removed. If you made no earnings on the contribution then enter zero. 

dmertz
Level 15

I am filling the HSA Excess Contribution Removal Form. What do I write in the field of Earnings on Excess?

Returned HSA contributions have the same calculation requirement as returned IRA contributions.  The calculation method is here:  https://www.law.cornell.edu/cfr/text/26/1.408-11

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