Fidelity Investments

Caveat: Fidelity will only auto-calculate for assets that originated at Fidelity. For contributions transferred in from another custodian, the originating provider must supply the earnings figure.

Known quirks

1. 1Auto-calculates earnings for Fidelity-originated contributions; user can override with a self-calculated figure using IRS Pub 590-A Worksheet 1-4.
2. 2Will NOT auto-calculate for contributions transferred in from another custodian — the originating provider must supply the earnings figure.
3. 3Cash-only withdrawals — shares of stocks or mutual funds cannot be transferred out as the corrective distribution.
4. 4Will not issue corrected 1099-Rs and the original Form 5498 stays as filed.

Submission method

Online — initiated from the 'Start a return of excess' button on Fidelity's official excess-IRA-contributions page.

Process at Fidelity Investments

1. Confirm the contribution is in fact excess (limit lookup, MAGI check).
2. Compute NIA — or rely on custodian; reconcile against your own NIA for sanity-check.
3. Submit the Return of Excess Contribution.
4. Allow processing time per the custodian's stated SLA (typically 3–10 business days).
5. Receive Form 1099-R (IRA) or 1099-SA (HSA) the following January with the applicable distribution code (8 / P for IRA current vs prior-year correction).
6. Report the earnings (NIA) as taxable income — in the year of the original contribution per IRC §408(d)(4).

Also relevant

• All custodian guides — index of every custodian we've verified.
• Run the NIA calculator — produce the earnings figure to bring to Fidelity Investments's form.
• Removal decision tree — confirm the corrective path before initiating.
• When to file — Apr 15 / Oct 15 windows that gate timely removal vs. the §4973 6% excise.
• What counts as excess — IRA cap, Roth MAGI phase-out, and combined-cap aggregation.