<prompt> Human: I am aware that they may be more appropriate subreddits or websites for me to be posting in. If so, please do not hesitate to point me in the right direction. I intend to call Vanguard as soon as possible, but Vanguard does not accept phone calls on weekends so I will post here for the time being.x200B;I am 18. I am currently unemployed and have not worked a single day in my life. A few days ago, I filed a Roth IRA application to Vanguard with an initial contribution of 5,500. The application is currently pending for approval. It has come to my attention that an individual is unable to contribute to a IRA if they have no earned income for the year, and the amount contributed cannot exceed the amount earned x200B;Hopefully, my application will be rejected, saving me from further complications. In the scenario my application is accepted, I believe I will be able to withdraw my initial contribution of 5,500 without any penalty by filing for the removal of excess contributions x200B;I think I may have an alternative option. My college starts a month from now, and I plan to work part-time then. To my understanding, my earnings from the part-time by December 31st will become eligible IRA contributions. Although I will most likely be unable to earn 5,500, I will be able to keep the amount I have earned inside my established Roth IRA account, and withdraw the remainder as excess contribution to avoid incurring any future penalties. x200B;I would like some confirmation that I am accurately reading the situation I have placed myself in, if not suggestions on a course of action I should be considering or taking. x200B;x200B;x200B;x200B;x200B;x200B;x200B;  <response>: Your application is highly unlikely to be rejected. That said, all youve done is made an excess contribution. As long as you remove it within the same tax year, youll be fine.Once your account clears, just go here and fill out their online excess contribution form:Youll want to do this rather than just taking the money out yourself so that they report it properly for tax purposes. If you end up making money later this year, you can re-contribute. Edit: The link there has a form in PDF format youd have to print off and mail them, but if you call they should be able to send you an electronic form thats easier to deal with. My cousin had to do this last year and he did it through an online form. 