IRS Form 5329: Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts
Form 5329 reports additional taxes connected to retirement plans, IRAs and other tax-favored accounts. Common examples are early distributions, excess contributions and missed required distributions. You may also use it to claim an exception. The instructions explain which parts apply to you.
What this form is for
It figures extra taxes on certain withdrawals and contributions from retirement and other savings accounts.
When people usually use it
People use it after taking money from a retirement account early or putting in more than allowed. It can also come up in IRS letters about a retirement distribution.
What to have ready
- Form 1099-R for any distribution
- Contribution records for each account
- Your return for that year
Notices that mention it
- IRS Notice CP2000: Proposed changes to your tax return
Related forms
- Form 1040: U.S. Individual Income Tax Return
- Schedule 1: Additional Income and Adjustments to Income
Read the IRS page
IRS.gov page for Form 5329 (opens in a new tab). The IRS page is the final word on this form.
Frequently asked questions
What is IRS Form 5329?
Form 5329 reports additional taxes connected to retirement plans, IRAs and other tax-favored accounts. Common examples are early distributions, excess contributions and missed required distributions. You may also use it to claim an exception. The instructions explain which parts apply to you.
Where do I get Form 5329?
The current version and instructions are on the IRS page for Form 5329 at https://www.irs.gov/forms-pubs/about-form-5329. Download it there so you have the right revision.
Do I need to file Form 5329?
It depends on your situation. Read the IRS page and the instructions, and if a letter mentioned Form 5329, read what that letter asks for. OweRight does not give tax advice.
What should I have ready for Form 5329?
A good starting list is: form 1099-r for any distribution; contribution records for each account; your return for that year. The instructions on IRS.gov list everything the form asks for.
If you have an IRS letter
The OweRight iPhone app reads your letter and explains what it says in plain English. Join early access and we will let you know when it is available.
OweRight is not the IRS and does not give tax or legal advice.