Roth IRA Excess Contributions

If your income is too high, you can't make Roth IRA contributions. Instead you can make nondeductible IRA contributions because there is no income limit on those and there are no rules preventing you from converting the nondeductible contribution immediately to a Roth. You also have until the due date of the return plus the extension period of six months to withdraw an excess Roth contribution. If you miss the deadline, there is a 6% excise tax on excess contributions per year until the excess is withdrawn.