I just found out the my actual IB's IRA contribution for 2006 and the contribution amount reported in Form 5498 sent by IB's IRA Trust is different. You might want to check the contribution amount reported in Form 5498 for your IB's IRA account. Per Trust company, the contribution amount reported by the broker IB (or any other broker) to the trustee can sometimes be wrong, and the broker needs to initiate the correction. These are correctable errors with less consequences if corrected in time; otherwise, misinformed IRS will penalize the account holder thinking that the account went over the regular max. yearly contribution limit. If you faced similar issue with IB or any other broker, kindly share. It may help others.