what is considered an excess contribution for an ira
INFORMATION: Please read the following carefully before proceeding.e proceeding. Roth IRA Excess Contributions Removal InformationRoth IRA Excess Contributions Removal Information. Generally, an excess contribution is the amount of contribution to your Roth IRA that is over the annual limitation. If an. excess contribution and any earnings attributable to the excess are not removed by your tax-filing deadline (plus. extensions), you may be subject to a 6% excise tax. If you own both a Roth IRA and a Traditional IRA and have excess, the excess must first be removed from the Roth IRA. account.