Depending on when the deposit was made, we may be able to cancel the deposit. If not, we will need to do an excess contribution removal. If you'd ever like to cancel a pending deposit, you will need to reach out to the support team via the in-app chat or via our email at support@public.com.
For an excess contribution removal, our team will need additional information from you to process an excess contribution from your IRA. Specifically, you will need to provide the amount and any earnings known as the NIA (Net Income Attributable) before we can prepare the form. We can not advise on this figure, but it must be inputted on the form.
Please respond with the following details:
Return Excess Contribution Amount:
Tax year:
NIA (Net income attributable):
State and Federal Tax withholding if any:
As a note, we at Public cannot provide tax advice. You may want to consult with a tax professional regarding your specific tax situation.
If you ever have questions, the team is always here for you, through Chat or via email at support@public.com.