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IRA or an eligible section 457 deferred

5329” and the amount of the tax to the

information on this form to carry out the

compensation plan. The additional tax is

left of the line 7 entry space.

Internal Revenue laws of the United

50% of the excess accumulation, which

States. We need this information to

Roth IRA. There are no minimum

is the difference between the amount

ensure that you are complying with

required distributions during the lifetime

that was required to be distributed and

these laws and to allow us to figure and

of the owner of a Roth IRA. Following

the amount that was actually distributed.

collect the right amount of tax. You are

the death of the Roth IRA owner,

The tax is due for the tax year that

required to give us this information if you

required distribution rules apply to the

includes the last day by which the

made certain contributions or received

beneficiary. See Must You Withdraw or

minimum required distribution must be

certain distributions from qualified plans,

Use Assets? in Pub. 590-B for details.

taken.

including IRAs, and other tax-favored

Qualified retirement plans (other

accounts. Our legal right to ask for the

Line 52

than IRAs) and eligible section 457

information requested on this form is

deferred compensation plans. In

sections 6001, 6011, 6012(a), and 6109

IRA (other than a Roth IRA). You

general, you must begin receiving

and their regulations. If you do not

must start receiving distributions from

distributions from your plan no later than

provide this information, or you provide

your IRA by April 1 of the year following

April 1 following the later of (a) the year

incomplete or false information, you

the year in which you reach age 70

. At

1 2

in which you reach age 70

or (b) the

may be subject to penalties.

1 2

that time, you can receive your entire

year in which you retire.

interest in the IRA or begin receiving

You are not required to provide the

periodic distributions. If you choose to

Exception. If you owned more than

information requested on a form that is

receive periodic distributions, you must

5% of the employer maintaining the

subject to the Paperwork Reduction Act

receive a minimum required distribution

plan, you must begin receiving

unless the form displays a valid OMB

each year. You can figure the minimum

distributions no later than April 1 of the

control number. Books or records

required distribution by dividing the

year following the year in which you

relating to a form or its instructions must

account balance of your IRAs (other

reach age 70

, regardless of when you

be retained as long as their contents

1 2

than Roth IRAs) on December 31 of the

retire.

may become material in the

year preceding the distribution by the

administration of any Internal Revenue

Your plan administrator should figure

applicable life expectancy. For

law. Generally, tax returns and return

the amount that must be distributed

applicable life expectancies, see

information are confidential, as required

each year.

Figuring the Owner's Required Minimum

by section 6103. However, we may give

Distribution under When Must You

Waiver of tax. The IRS can waive part

this information to the Department of

Withdraw Assets? in Pub. 590-B.

or all of this tax if you can show that any

Justice for civil and criminal litigation,

shortfall in the amount of distributions

If the trustee, custodian, or issuer of

and to cities, states, the District of

was due to reasonable error and you

your IRA informs you of the minimum

Columbia, and U.S. commonwealths

are taking reasonable steps to remedy

required distribution, you can use that

and possessions to carry out their tax

the shortfall. If you believe you qualify

amount.

laws. We may also disclose this

for this relief, attach a statement of

information to other countries under a

If you have more than one IRA, you

explanation and file Form 5329 as

tax treaty, to federal and state agencies

can take the minimum required

follows.

to enforce federal nontax criminal laws,

distribution from any one or more of the

1. Complete lines 52 and 53 as

or to federal law enforcement and

IRAs (other than Roth IRAs).

instructed.

intelligence agencies to combat

For more details on the minimum

terrorism.

2. Enter “RC” and the amount you

distribution rules (including examples),

want waived in parentheses on the

see When Must You Withdraw Assets?

The average time and expenses

dotted line next to line 54. Subtract this

in Pub. 590-B.

required to complete and file this form

amount from the total shortfall you

will vary depending on individual

A qualified charitable

figured without regard to the waiver, and

circumstances. For the estimated

distribution will count towards

TIP

enter the result on line 54.

averages, see the instructions for your

your required minimum

3. Complete line 55 as instructed.

income tax return.

distribution. See Qualified charitable

You must pay any tax due that is

distributions under Are Distributions

If you have suggestions for making

reported on line 55.

Taxable? in chapter 1 of Pub. 590-B for

this form simpler, we would be happy to

more information.

The IRS will review the information

hear from you. See the instructions for

you provide and decide whether to grant

your income tax return.

Trusts and estates. Include the

your request for a waiver.

amount of tax, if any, on Form 1041,

Schedule G, line 7. Write “From Form

Privacy Act and Paperwork Reduc-

tion Act Notice. We ask for the

-8-

Instructions for Form 5329 (2017)

Instructions For Form 5329 - Additional Taxes On Qualified Plans (Including Iras) And Other Tax-Favored Accounts - 2017 Page 8

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