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I saw the earlier post by WiseNLucky, but I didn't see any mention of applying the excess contributions to the next year's contributions. I found this on the IRS Pub 590:

Applying excess contributions.
If contributions to your Roth IRA for a year were more than the limit, you can apply the excess contribution in one year to a later year if the contributions for that later year are less than the maximum allowed for that year.


Does anyone have any information on how exactly to do this? I've just discovered that I over-contributed for 2001, and would like to move the contributions to 2002. I'd also like to know if I'm still subject to the 6% penalty if I move the contributions to this year.

Any information would be GREATLY appreciated!

OLF
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