In an article posted yesterday on the irahelp site it said that the IRS revised the method of calculating inflation adjustments for 2018 and the new maximum family amount was lowered from $6900 to $6850. If I contributed $6900 back on January 2nd. How this will be treated? Will my higher contribution be grandfathered and avoid overpayment penalty? Can I/should I withdraw the excess $50 (plus earnings)? If yes, what is the procedure for this?