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and may be subject to the 10%

Taxable compensation is your

complete a separate form for each of

additional tax on early distributions.

compensation that is included in gross

you. Include the combined tax on Form

income reduced by any deductions on

1040, line 59.

You can roll over (convert) amounts

Form 1040 or Form 1040NR, lines 27

from a qualified retirement plan to a

Amended returns. If you are filing an

and 28, but not by any loss from

Roth IRA. Any amount rolled over to a

amended 2017 Form 5329, check the

self-employment.

Roth IRA is subject to the same rules for

box at the top of page 1 of the form.

converting a traditional IRA to a Roth

ABLE rollover. For an ABLE account,

Don’t use the 2017 Form 5329 to amend

IRA. You must include in your gross

a rollover means a contribution to an

your return for any other year. For

income distributions from a qualified

ABLE account of a designated

information about amending a Form

retirement plan that you would have had

beneficiary (or of an eligible individual

5329 for a prior year, see

Prior tax

to include in income if you hadn’t rolled

who is a member of the family of the

years, earlier.

them into a Roth IRA. Generally, the

designated beneficiary) of all or a

Part I—Additional Tax on

10% additional tax on early distributions

portion of an amount withdrawn from the

doesn’t apply. For more information,

designated beneficiary's ABLE account.

Early Distributions

see chapter 2 of Pub. 590-A.

The contribution must be made within

In general, if you receive an early

60 days of the withdrawal date; and, if

The IRS may waive the 60-day

distribution (including an involuntary

the rollover is to the designated

requirement if failing to waive it would

cashout) from an IRA, other qualified

beneficiary's ABLE account, there must

be against equity or good conscience,

retirement plan, or modified endowment

have been no rollover to an ABLE

such as situations where a casualty,

contract, the part of the distribution

account of that beneficiary within the

disaster, or other events beyond your

included in income generally is subject

prior 12 months.

reasonable control prevented you from

to the 10% additional tax. But see

meeting the 60-day requirement. Also,

Program-to-program transfer. For

Distributions from a designated Roth

the 60-day period may be extended if

an ABLE account, a

account

below and

Distributions from

you had a frozen deposit. See Time

program-to-program transfer includes

Roth

IRAs, later.

Limit for Making a Rollover Contribution

the direct transfer of the entire balance

under Can You Move Retirement Plan

The additional tax on early

of an ABLE account into a second ABLE

Assets? in Pub. 590-A for details. Also,

distributions doesn’t apply to any of the

account if both accounts have the same

see Revenue Procedure 2016-47 in

following.

designated beneficiary and the first

Internal Revenue Bulletin 2016-37

A qualified disaster distribution. See

ABLE account is closed upon

available at

IRS.gov/irb/2016-37_IRB/

Form 8915A or Form 8915B, as

completion of the transfer. A

ar09.html

for information on how to

applicable, for more details.

program-to-program transfer also

self-certify for a waiver.

A qualified HSA funding distribution

occurs when part or all of the balance in

from an IRA (other than a SEP or

an ABLE account is transferred to the

In-plan Roth rollover. If you are a

SIMPLE IRA). See Qualified HSA

ABLE account of an eligible individual

participant in a 401(k), 403(b), or

funding distribution under Health

who is a member of the family of the

governmental 457(b) plan, your plan

Savings Accounts in Pub. 969 for

former designated beneficiary, as long

may permit you to roll over amounts

details.

as no intervening distribution is made to

from those plans to a designated Roth

A distribution from a traditional or

the designated beneficiary.

account within the same plan. The

SIMPLE IRA that was converted to a

rollover of any untaxed amounts must

Additional Information

Roth IRA.

be included in income. Generally, the

A rollover from a qualified retirement

10% additional tax on early distributions

See the following publications for more

plan to a Roth IRA.

doesn’t apply. For more information,

information about the items in these

An in-plan rollover to a designated

see In-plan Roth rollovers under

instructions.

Roth account.

Rollovers in Pub. 575.

Pub. 560, Retirement Plans for Small

A distribution of certain excess IRA

Business;

Compensation. Compensation

contributions (see the instructions for

Pub. 575, Pension and Annuity

includes wages, salaries, tips, bonuses,

line

15, later, and the instructions for

Income;

and other pay you receive for services

line

23, later).

Pub. 590-A, Contributions to

you perform. It also includes sales

Individual Retirement Arrangements

commissions, commissions on

Note. Any related IRA earnings

(IRAs);

insurance premiums, and pay based on

withdrawn with excess IRA contributions

Pub. 590-B, Distributions from

a percentage of profits. It includes net

are subject to the 10% additional tax on

Individual Retirement Arrangements

earnings from self-employment, but only

early distributions if you were under age

(IRAs);

for a trade or business in which your

at the time of the distribution.

1 2

Pub. 721, Tax Guide to U.S. Civil

personal services are a material

Service Retirement Benefits;

income-producing factor.

A distribution of excess deferrals.

Pub. 969, Health Savings Accounts

Excess deferrals include distributions of

For IRAs, treat nontaxable combat

and Other Tax-Favored Health Plans;

excess contributions from a qualified

pay and any differential wage payments,

Pub. 970, Tax Benefits for Education;

and all taxable alimony received under a

cash or deferred arrangement (section

and

decree of divorce or separate

401(k) plan), excess contributions from

Pub. 976, Disaster Relief.

maintenance as compensation.

a tax-sheltered annuity (section 403(b)

plan), excess contributions from a SEP

Specific Instructions

Compensation doesn’t include any

IRA, and excess contributions from a

amounts received as a pension or

SIMPLE IRA.

annuity and doesn’t include any amount

Joint returns. If both you and your

A distribution of excess aggregate

received as deferred compensation.

spouse are required to file Form 5329,

contributions to meet nondiscrimination

-2-

Instructions for Form 5329 (2017)

Instructions For Form 5329 - Additional Taxes On Qualified Plans (Including Iras) And Other Tax-Favored Accounts - 2017 Page 2

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