Excess Roth IRA Contributions

April 8, 2017

What happens if you contribute to your Roth IRA and then find out you contributed too much? Jim and Chris answer a listener’s question when he did just that. Should he recharacterize or do something else? Another listener also asks about Roth IRAs. This listener and his wife have a traditional IRA. They were curious to know if there would be any complications if they opened a Roth with the same provider as their traditional one. Also, if you’ve contributed as much to your Roth IRA as you possibly can for the year, what other options do you have if you want to save more?

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Jim Saulnier and Associates | 970-530-0556 | 506 East Mulberry Street, Fort Collins, Colorado 80524

Ed Slott Advisor recognition requires an advisor to be well versed on the rules and regulations regarding IRAs. The advisor must attend two live training sessions and pass two written exams annually to remain in the program. Jim Saulnier & Associates, LLC (“RIA Firm”) is a registered investment adviser located in Fort Collins, CO. Jim Saulnier & Associates, LLC may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Current registered states: CA, CO, PA, TX, WA, IL Insurance products and services are offered and sold through James H. Saulnier, a Colorado licensed insurance producer, only in those states in which he is reciprocally licensed or qualifies for an exemption or exclusion from licensing requirements. Current reciprocal insurance licensing in these states: AZ, CA, CA, CN, FL, HI, IA, MA, MD, NY, PA, SC, TN, TX, VA, WA, WI, WY Click here for a more detailed disclosure.