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written election that provides a specific

line 17 of your 2008 Form 5329 is more

Line 2

schedule for distribution of your entire

than zero.

The additional tax on early distributions

interest; and

does not apply to the distributions

3. The distribution is actually being

described below. Enter on line 2 the

Line 10

made under the written election.

amount that can be excluded. In the

•

Distributions that are dividends paid

If you contributed less to your

space provided, enter the applicable

with respect to stock described in

traditional IRAs for 2009 than your

exception number (01-12).

section 404(k).

contribution limit for traditional IRAs,

•

Distributions from annuity contracts

enter the difference.

to the extent that the distributions are

No. Exception

allocable to the investment in the

If you are not married filing jointly,

contract before August 14, 1982.

your contribution limit for traditional

01 Qualified retirement plan distributions

(does not apply to IRAs) if you

IRAs is the smaller of your taxable

For additional exceptions that apply

separated from service in or after the

compensation (see page 2) or $5,000

to annuities, see Pub. 575.

year you reach age 55 (age 50 for

($6,000 if age 50 or older at the end of

qualified public safety employees).

2009). If you are married filing jointly,

your contribution limit is generally

02 Distributions made as part of a series of

Line 4

$5,000 ($6,000 if age 50 or older at the

substantially equal periodic payments

If any amount on line 3 was a

end of 2009) and your spouse’s

(made at least annually) for your life (or

distribution from a SIMPLE IRA

contribution limit is $5,000 ($6,000 if

life expectancy) or the joint lives (or joint

received within 2 years from the date

life expectancies) of you and your

age 50 or older at the end of 2009). But

you first participated in the SIMPLE IRA

designated beneficiary (if from an

if the combined taxable compensation

plan, you must multiply that amount by

employer plan, payments must begin

for you and your spouse is less than

25% instead of 10%. These

after separation from service).

$10,000 ($11,000 if one spouse is 50 or

distributions are included in boxes 1

older at the end of 2009; $12,000 if

03 Distributions due to total and permanent

and 2a of Form 1099-R and are

both spouses are 50 or older at the end

disability.

designated with code S in box 7.

of 2009), see How Much Can Be

04 Distributions due to death (does not

Contributed? in Pub. 590 for special

apply to modified endowment contracts).

rules.

Part II—Additional Tax

05 Qualified retirement plan distributions up

to (1) the amount you paid for

on Certain Distributions

If you participated in a 401(k)

unreimbursed medical expenses during

TIP

From Education

plan and the employer who

the year minus (2) 7.5% of your

maintained the plan went into

adjusted gross income for the year.

Accounts

bankruptcy in an earlier year, you may

06 Qualified retirement plan distributions

be able to contribute up to $8,000 to

made to an alternate payee under a

Line 6

your traditional IRA. See Pub. 590 for

qualified domestic relations order (does

more details.

This tax does not apply to distributions

not apply to IRAs).

that are includible in income if:

07 IRA distributions made to unemployed

•

Also include on line 11a or 11b of

Due to the death or disability of the

individuals for health insurance

beneficiary;

the IRA Deduction Worksheet in the

premiums.

•

Made on account of a tax-free

instructions for Form 1040, line 32, the

08 IRA distributions made for higher

smaller of (a) Form 5329, line 10, or (b)

scholarship, allowance, or payment

education expenses.

the excess, if any, of Form 5329, line 9,

described in section 25A(g)(2);

•

Made because of attendance by the

over the sum of Form 5329, lines 11

09 IRA distributions made for purchase of a

and 12.

beneficiary at a U.S. military academy.

first home, up to $10,000.

This exception applies only to the

10 Distributions due to an IRS levy on the

extent that the distribution does not

qualified retirement plan.

Line 11

exceed the costs of advanced

11 Qualified distributions to reservists while

education (as defined in title 10 of the

Enter on line 11 any withdrawals from

serving on active duty for at least 180

U.S. Code) at the academy; or

your traditional IRAs that are included

•

days.

Included in income because you

in your income. Do not include any

used the qualified education expenses

withdrawn contributions reported on

12 Other (see Other, below). Also, enter

to figure the American opportunity,

line 12.

this code if more than one exception

Hope, and lifetime learning credits.

applies.

Line 12

Enter on line 6 the portion of line 5

Enter any excess contributions to your

that is excluded.

traditional IRAs for 1976 through 2007

Other. The following exceptions also

that you had returned to you in 2009

apply.

Part III—Additional Tax

and any 2008 excess contributions that

•

Distributions incorrectly indicated as

you had returned to you in 2009 after

on Excess Contributions

early distributions by code 1, J, or S in

the due date (including extensions) of

box 7 of Form 1099-R. Include on line 2

to Traditional IRAs

your 2008 income tax return, that are

the amount you received when you

included on line 9, if:

If you contributed more for 2009 than is

were age 59

or older.

•

allowable or you had an amount on line

•

You did not claim a deduction for the

Distributions from a section 457 plan,

17 of your 2008 Form 5329, you may

excess contributions and no traditional

which are not from a rollover from a

owe this tax. But you may be able to

IRA deduction was allowable (without

qualified retirement plan.

avoid the tax on any 2009 excess

regard to the modified AGI limitation)

•

contributions (see the instructions for

Distributions from a plan maintained

for the excess contributions, and

line 15 on page 4).

by an employer if:

•

The total contributions to your

1. You separated from service by

traditional IRAs for the tax year for

March 1, 1986;

Line 9

which the excess contributions were

2. As of March 1, 1986, your entire

Enter the amount from line 16 of your

made were not more than the amounts

interest was in pay status under a

2008 Form 5329 only if the amount on

shown in the following table.

-3-

Instructions For Form 5329 - Additional Taxes On Qualified Plans (Including Iras) And Other Tax-Favored Accounts - 2009 Page 3

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