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Roth IRA - Contribution Withdrawal
Old 11-05-2008, 09:05 PM   #1
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Roth IRA - Contribution Withdrawal

Hi,

I have a Roth IRA with Vanguard invested totally in their Target Retirement 2050 fund.

Earlier this year I put a lot of money for me (in reality, a lot of my emergency fund) in the IRA. Long story short, I withdrew some of my CONTRIBUTION money in the fund. Annoying, **** happens, but luckily no penalties or taxes.

I am ready to start re-contributing money to the fund again, but the contributions will not be as large as the amount I took out.

Question is: is it totally kosher to just start re-contributing like 100 a month, or is it a big deal that I am not re-contributing the exact amount that I took out a few months ago?

I am swamped at work and never seem to have the time to call Vanguard during their hours, but I am just wondering if anyone knows off the top of their head, or if they have gone through this.

Thanks!
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Old 11-06-2008, 09:18 PM   #2
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Today I found out from Vanguard that I can resume contributing just like normal. It automatically realizes that I took out some contribution, so I can re-make-up for that at my own place.

I just have to fill out a 1099-R form in 2009 to explain that the money I took out should not be a penalized distribution because it was contribution money not gains.
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Old 11-07-2008, 05:38 AM   #3
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You do not fill out a 1099-R the custodian (Vanguard) does. Look for the codes on their form which should explain the transaction(s).
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Old 11-07-2008, 08:48 PM   #4
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Quote:
Originally Posted by OAG View Post
You do not fill out a 1099-R the custodian (Vanguard) does. Look for the codes on their form which should explain the transaction(s).
Thank you!
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