Instructions For Form 5329 (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
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
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
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
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
accounts exceed your maximum
taxes on:
contribution limit, or you had a tax due
Qualified retirement plan. A qualified
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
Modified endowment contracts,
stock bonus plan (including a 401(k)
You did not receive the minimum
Coverdell ESAs,
required distribution from your qualified
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
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.
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
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


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