Instructions For Form 5329 (2015) (Page 4 of 8) in pdf

to pay outstanding obligations due for

Other. The following exceptions also

qualified disability expenses of the

apply.

No. Exception

designated beneficiary, including a

Distributions incorrectly indicated as

01 Qualified retirement plan distributions

claim filed by a State under a State

early distributions by code 1, J, or S in

(does not apply to IRAs) you receive

Medicaid plan.

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

after separation from service when

the amount you received when you

Line 6

the separation from service occurs in

were age 59

or older.

The additional tax does not apply to the

or after the year you reach age 55

Distributions from a section 457 plan,

(age 50 for qualified public safety

distributions that are includible in

which are not from a rollover from a

employees).

income described next. Enter on line 6

qualified retirement plan.

the amount from line 5 that you can

02 Distributions made as part of a series

Distributions from a plan maintained

exclude.

of substantially equal periodic

by an employer if:

Distributions made due to the death

payments (made at least annually) for

1. You separated from service by

or disability of the beneficiary.

your life (or life expectancy) or the

March 1, 1986;

Distributions from an education

joint lives (or joint life expectancies)

2. As of March 1, 1986, your entire

account made on account of a tax-free

of you and your designated

interest was in pay status under a

scholarship, allowance, or payment

beneficiary (if from an employer plan,

written election that provides a specific

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

payments must begin after separation

schedule for the distribution of your

Distributions from an education

from service).

entire interest; and

account made because of attendance

03 Distributions due to total and

by the beneficiary at a U.S. military

3. The distribution is actually being

permanent disability. You are

academy. This exception applies only to

made under the written election.

considered disabled if you can furnish

the extent that the distribution does not

proof that you cannot do any

Distributions that are dividends paid

exceed the costs of advanced

substantial gainful activity because of

with respect to stock described in

education (as defined in title 10 of the

your physical or mental condition. A

section 404(k).

U.S. Code) at the academy.

medical determination that your

Distributions from annuity contracts to

Distributions from an education

condition can be expected to result in

the extent that the distributions are

account included in income because

death or to be of long, continued, and

allocable to the investment in the

you used the qualified education

indefinite duration must be made.

contract before August 14, 1982. For

expenses to figure the American

04 Distributions due to death (does not

additional exceptions that apply to

opportunity and lifetime learning credits.

apply to modified endowment

annuities, see Tax on Early Distributions

contracts).

Part III—Additional Tax on

under Special Additional Taxes in Pub.

575.

05 Qualified retirement plan distributions

Excess Contributions to

Distributions that are phased

up to the amount you paid for

Traditional IRAs

retirement annuity payments made to

unreimbursed medical expenses

during the year minus 10% (or 7.5%

federal employees. See Pub. 721 for

If you contributed more for 2015 than is

if you or your spouse were born

more information on the phased

allowable or you had an amount on

before January 2, 1951) of your

line 17 of your 2014 Form 5329, you

retirement program.

adjusted gross income (AGI) for the

may owe this tax. But you may be able

Line 4

year.

to avoid the tax on any 2015 excess

If any amount on line 3 was a

contributions (see the instructions for

06 Qualified retirement plan distributions

distribution from a SIMPLE IRA received

line

15, later).

made to an alternate payee under a

within 2 years from the date you first

qualified domestic relations order

Line 9

participated in the SIMPLE IRA plan,

(does not apply to IRAs).

you must multiply that amount by 25%

Enter the amount from line 16 of your

07 IRA distributions made to certain

instead of 10%. These distributions are

2014 Form 5329 only if the amount on

unemployed individuals for health

included in boxes 1 and 2a of Form

line 17 of your 2014 Form 5329 is more

insurance premiums.

1099-R and are designated with code S

than zero.

in box 7.

08 IRA distributions made for qualified

Line 10

higher education expenses.

Part II—Additional Tax on

Enter the difference, if any, of your

09 IRA distributions made for the

contribution limit for traditional IRAs less

Certain Distributions From

purchase of a first home, up to

your contributions to traditional IRAs

Education Accounts and

$10,000.

and Roth IRAs for 2015.

ABLE Accounts

10 Qualified retirement plan distributions

If you are not married filing jointly,

made due to an IRS levy.

your contribution limit for traditional

Line 5

11 Qualified distributions to reservists

IRAs is the smaller of your taxable

Distributions from an ABLE account are

while serving on active duty for at

compensation

(defined earlier) or

not included in income if made on or

least 180 days.

$5,500 ($6,500 if age 50 or older at the

after the death of the designated

end of 2015). If you are married filing

12 Other (see

Other

next). Also, enter

beneficiary:

jointly, your contribution limit is generally

this code if more than one exception

to the estate of the designated

$5,500 ($6,500 if age 50 or older at the

applies.

beneficiary,

end of 2015) and your spouse's

to an heir or legatee of the designated

contribution limit is $5,500 ($6,500 if

beneficiary, or

age 50 or older at the end of 2015). But

-4-

Instructions for Form 5329 (2015)

Instructions For Form 5329 (2015) Page 4

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