Instructions For Form 5329 (2015) printable pdf download

2015

Department of the Treasury

Internal Revenue Service

Instructions for Form 5329

Additional Taxes on Qualified Plans (Including IRAs)

and Other Tax-Favored Accounts

Form 1040, line 59, or Form 1040NR,

Form 5329 by itself at the time and

Section references are to the Internal Revenue

Code unless otherwise noted.

line 57, for how to report the 10%

place you would be required to file Form

additional tax directly on that line.

1040 or Form 1040NR. Be sure to

General Instructions

include your address on page 1 of the

You received an early distribution

form and your signature and the date on

subject to the tax on early distributions

Future Developments

page 2 of the form. Enclose, but do not

from a qualified retirement plan (other

attach, a check or money order payable

than a Roth IRA), you meet an

For the latest information about

to “United States Treasury” for any

exception

to the tax on early

developments related to Form 5329 and

taxes due. Write your SSN and “2015

distributions from the list shown later,

its instructions, such as legislation

Form 5329” on the check. For

and distribution code 1 is shown in

enacted after they were published, go to

information on other payment options,

box 7 of Form 1099-R.

including credit or debit card payments,

You received an early distribution

What's New

see the instructions for Form 1040 or

subject to the tax on early distributions

Form 1040NR, or go to IRS.gov.

from a qualified retirement plan (other

ABLE accounts. Part II was revised to

than a Roth IRA), you meet an

Prior tax years. If you are filing Form

include the tax on the amount of any

exception

to the tax on early

5329 for a prior year, you must use the

distribution from an ABLE account that

distributions from the list shown later,

prior year's version of the form. If you do

is included in the gross income of the

but box 7 of your Form 1099-R does not

not have any other changes and have

distributee. Also, new Part VIII was

indicate an exception or the exception

not previously filed a federal income tax

added to reflect the tax on excess

does not apply to the entire distribution.

return for the prior year, file the prior

contributions to an ABLE account. For

You received taxable distributions

year's version of Form 5329 by itself

more information on ABLE accounts,

from Coverdell ESAs, QTPs, or ABLE

(discussed earlier). If you have other

see Pub. 907, Tax Highlights for

accounts.

changes, file Form 5329 for the prior

Persons with Disabilities.

The contributions for 2015 to your

year with Form 1040X, Amended U.S.

traditional IRAs, Roth IRAs, Coverdell

Individual Income Tax Return.

Purpose of Form

ESAs, Archer MSAs, HSAs, or ABLE

Use Form 5329 to report additional

Definitions

accounts exceed your maximum

taxes on:

contribution limit, or you had a tax due

Qualified retirement plan. A qualified

IRAs,

from an excess contribution on line 17,

retirement plan includes:

Other qualified retirement plans,

25, 33, 41, or 49 of your 2014 Form

A qualified pension, profit-sharing, or

5329.

Modified endowment contracts,

stock bonus plan (including a 401(k)

You did not receive the minimum

Coverdell ESAs,

plan),

required distribution from your qualified

QTPs,

A tax-sheltered annuity contract,

retirement plan. This also includes trusts

Archer MSAs,

A qualified annuity plan, and

and estates that did not receive this

HSAs. or

amount.

An IRA.

ABLE accounts.

If you rolled over part or all of a

Note. Modified endowment contracts

Who Must File

distribution from a qualified

are not qualified retirement plans.

TIP

You must file Form 5329 if any of the

retirement plan, the part rolled

Traditional IRAs. For purposes of

following apply.

over is not subject to the 10% additional

Form 5329, a traditional IRA is any IRA,

You received an early distribution

tax on early distributions. See the

including a simplified employee pension

instructions for Form 1040, lines 15a

from a Roth IRA, the amount on line 23

(SEP) IRA, other than a SIMPLE IRA or

and 15b or lines 16a and 16b; Form

of Form 8606, Nondeductible IRAs, is

Roth IRA.

more than zero, and you are required to

1040A, lines 11a and 11b or 12a and

12b; or Form 1040NR, lines 16a and

enter an amount that is more than zero

Early distribution. Generally, any

16b or 17a and 17b, for how to report

on Form 5329, line 1 (see

Distributions

distribution from your IRA, other

from Roth

IRAs, later).

the rollover.

qualified retirement plan, or modified

You received an early distribution

endowment contract before you reach

When and Where To File

subject to the tax on early distributions

age 59

is an early distribution.

from a qualified retirement plan (other

File Form 5329 with your 2015 Form

Qualified retirement plan or in-plan

than a Roth IRA). However, if

1040 or Form 1040NR by the due date,

Roth rollover. Generally, a rollover is a

distribution code 1 is correctly shown in

including extensions, of your Form 1040

tax-free distribution of assets from one

box 7 of all your Forms 1099-R, and you

or Form 1040NR.

qualified retirement plan that is

owe the additional tax on each Form

reinvested in another plan or the same

1099-R, you do not have to file Form

If you do not have to file a 2015

plan. Generally, you must complete the

5329. Instead, see the instructions for

income tax return, complete and file

rollover within 60 days of receiving the

Dec 30, 2015

Cat. No. 13330R

Instructions For Form 5329 (2015)

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