What happens if you over-contribute to a Roth IRA?

November 23, 2005

Subject:  Roth IRA Contribution
From:  Bryan
Date:  Fri, 14 Oct 2005

Hello Gray,

What happens if you contribute more to a Roth than the limitation amount?



Date:  Mon, 07 Nov 2005

Hello Bryan,

A non-deductible 6% excise tax is imposed on excess contributions to a Roth for each year until the excess amount plus related earnings are distributed. (Internal Revenue Code Section 4973(a).)

Good luck!
Mike Gray

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