What are excess IRA contributions, and how do I correct one?

If you contributed more to your traditional IRA or Roth IRA than is allowed, the amount above your contribution limit is considered an excess contribution. If this amount is not removed, you may have to pay an additional 6% tax on the excess portion of your contribution for the year.

There are a few options for handling excess contributions:

1. Withdraw the excess contribution and earnings by the filing deadline (including extensions).
2. Pay the penalty tax of 6% of the excess contribution on your 2025 return, and apply the excess contribution to your 2026 IRA contribution limit.

We'll calculate any excess contribution for you.

How do I correct my excess contribution?