Forma Instrukcijos
VII PRIEDAS
2023 metai
Susijusios formos
- Forma - Kiti mokesčiai už kvalifikuotus planus (įskaitant IRA) ir kitas mokesčių tikslais gaunamas sąskaitas
Department of the Treasury
Internal Revenue Service
2023
Instructions for Form 5329
Additional Taxes on Qualified Plans (Including IRAs)
and Other Tax-Favored Accounts
Section references are to the Internal Revenue Code unless
otherwise noted.
distributions from the list shown later, but box 7 of your Form
1099-R doesn’t indicate an exception or the exception
doesn’t apply to the entire distribution.
General Instructions
You received taxable distributions from Coverdell ESAs,
QTPs, or ABLE accounts.
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Future Developments
The contributions for 2023 to your traditional IRAs, Roth
IRAs, Coverdell ESAs, Archer MSAs, HSAs, or ABLE
accounts exceed your maximum contribution limit, or you
had a tax due from an excess contribution on line 17, 25, 33,
41, or 49 of your 2022 Form 5329.
For the latest information about developments related to Form
5329 and its instructions, such as legislation enacted after they
Reminders
You didn’t receive the minimum required distribution from
your qualified retirement plan. This also includes trusts and
estates that didn’t receive this amount. See Waiver of tax for
reasonable cause, later, for information on waiving the tax
on excess accumulations in qualified retirement plans.
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Certain corrective distributions not subject to 10% early
distribution tax. Beginning on December 29, 2022, the 10%
additional tax on early distributions will not apply to a corrective
IRA distribution, which consists of an excessive contribution (a
contribution greater than the IRA contribution limit) and any
earnings allocable to the excessive contribution, as long as the
corrective distribution is made on or before the due date
(including extensions) of the income tax return.
If you rolled over part or all of a distribution from a
qualified retirement plan, the part rolled over isn’t subject
to the 10% additional tax on early distributions. See the
TIP
instructions for Form 1040, or 1040-NR, lines 4a and 4b or lines
5a and 5b, for how to report the rollover.
Qualified disaster distributions. The 10% additional tax on
early distributions doesn't apply to qualified disaster distributions
nor does it apply to qualified disaster recovery distributions. See
Form 8915-F for more details.
When and Where To File
File Form 5329 with your 2023 Form 1040, 1040-SR,1040-NR,
or 1041 by the due date, including extensions, of your tax return.
Maximum age for traditional IRA contributions. The age
restriction for contributions to a traditional IRA has been
eliminated.
If you don’t have to file a 2023 income tax return, complete
and file Form 5329 by itself at the time and place you would be
required to file Form 1040, 1040-SR, or 1040-NR. If you file Form
5329 by itself, then it can’t be filed electronically. Be sure to
include your address on page 1 of the form and your signature
and the date on page 2 of the form. Enclose, but don’t attach, a
check or money order payable to “United States Treasury” for
any taxes due. Write your social security number and “2023
Form 5329” on the check. For information on other payment
options, including credit or debit card payments, see the
Instructions for Form 1040 or the Instructions for Form 1040-NR,
or go to IRS.gov.
Purpose of Form
Use Form 5329 to report additional taxes on:
IRAs,
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Other qualified retirement plans,
Modified endowment contracts,
Coverdell ESAs,
QTPs,
Archer MSAs,
HSAs, or
ABLE accounts.
Prior tax years. If you are filing Form 5329 for a prior year, you
must use the prior year's version of the form. If you don’t have
any other changes and haven’t previously filed a federal income
tax return for the prior year, file the prior year's version of Form
5329 by itself (discussed earlier). If you have other changes, file
Form 5329 for the prior year with Form 1040-X, Amended U.S.
Individual Income Tax Return.
Who Must File
You must file Form 5329 if any of the following apply.
You received a distribution from a Roth IRA and either the
amount on line 25c of Form 8606, Nondeductible IRAs, is
more than zero, or the distribution includes a recapture
amount subject to the 10% additional tax, or it’s a qualified
first-time homebuyer distribution (see Distributions from
Roth IRAs, later).
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Definitions
Qualified retirement plan. A qualified retirement plan includes:
You received a distribution subject to the tax on early
distributions from a qualified retirement plan (other than a
Roth IRA). However, if distribution code 1 is correctly shown
in box 7 of all your Forms 1099-R and you owe the additional
tax on the full amount shown on each Form 1099-R, you
don’t have to file Form 5329. Instead, see the instructions for
Schedule 2 (Form 1040), line 8, in the Instructions for Form
1040, or the Instructions for Form 1040-NR, for how to report
the 10% additional tax directly on that line.
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A qualified pension, profit-sharing, or stock bonus plan
(including a 401(k) plan);
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A tax-sheltered annuity contract (403(b) plan);
A qualified annuity plan; and
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An IRA.
Note. Modified endowment contracts aren’t qualified retirement
plans.
You received a distribution subject to the tax on early
distributions from a qualified retirement plan (other than a
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Jan 23, 2024
Cat. No. 13330R
of that beneficiary within the prior 12 months. The IRS may
extend the 60-day rollover period for individuals affected by a
disaster. An ABLE rollover doesn’t include a contribution to an
ABLE account of funds distributed from a QTP account.
Program-to-program transfer. For an ABLE account, a
program-to-program transfer includes the direct transfer of the
entire balance of an ABLE account into a second ABLE account
if both accounts have the same designated beneficiary and the
first ABLE account is closed upon completion of the transfer. A
program-to-program transfer also occurs when part or all of the
balance in an ABLE account is transferred to the ABLE account
of an eligible individual who is a member of the family of the
former designated beneficiary, as long as no intervening
distribution is made to the designated beneficiary.
Traditional IRAs. For purposes of Form 5329, a traditional IRA
is any IRA, including a simplified employee pension (SEP) IRA,
other than a SIMPLE IRA or Roth IRA.
Early distribution. Generally, any distribution from your IRA,
other qualified retirement plan, or modified endowment contract
before you reach age 591/2 is an early distribution.
Qualified retirement plan rollover. Generally, a rollover is a
tax-free distribution of assets from one qualified retirement plan
that is reinvested in another plan or the same plan. Generally,
you must complete the rollover within 60 days of receiving the
distribution. Any taxable amount not rolled over must be included
in income and may be subject to the 10% additional tax on early
distributions. The IRS may extend the 60-day rollover period for
individuals affected by a disaster.
You can roll over (convert) amounts from a qualified
retirement plan to a Roth IRA. Any amount rolled over to a Roth
IRA is subject to the same rules for converting a traditional IRA to
a Roth IRA. You must include in your gross income distributions
from a qualified retirement plan that you would have had to
include in income if you hadn’t rolled them into a Roth IRA. The
10% additional tax on early distributions doesn’t apply. For more
information, see chapter 2 of Pub. 590-A.
Pursuant to Rev. Proc. 2020-46 in Internal Revenue Bulletin
2020-45, available at https://www.irs.gov/irb/2020-45_IRB#REV-
PROC-2020-46, you may make a written certification to a plan
administrator or an IRA trustee that you missed the 60-day
rollover contribution deadline because of one or more of the
reasons listed in Rev. Proc. 2020-46. See Rev. Proc. 2020-46 for
information on how to self-certify for a waiver. Also see Time
Limit for Making a Rollover Contribution under Can You Move
Retirement Plan Assets? in Pub. 590-A for more information on
ways to get a waiver of the 60-day rollover requirement.
Additional Information
See the following publications for more information about the
items in these instructions.
Pub. 560, Retirement Plans for Small Business.
Pub. 575, Pension and Annuity Income.
Pub. 590-A, Contributions to Individual Retirement
Arrangements (IRAs).
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Pub. 590-B, Distributions from Individual Retirement
Arrangements (IRAs).
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Pub. 721, Tax Guide to U.S. Civil Service Retirement
Benefits.
Pub. 969, Health Savings Accounts and Other Tax-Favored
Health Plans.
Pub. 970, Tax Benefits for Education.
Specific Instructions
Joint returns. If both you and your spouse are required to file
Form 5329, complete a separate form for each of you. Include
the combined tax on Schedule 2 (Form 1040), line 8.
Note. The following were effective as of January 1, 2018.
A qualified plan loan offset is a type of plan loan offset that
meets certain requirements. In order to be a qualified plan
loan offset, the loan, at the time of the offset, must be a loan
in good standing and the offset must be solely by reason of
(1) the termination of the qualified employer plan, or (2) the
failure to meet the repayment terms is because the
employee has a severance from employment. If you meet
the requirements of a qualified plan loan offset, you have
until the due date, including extensions, to file your tax return
for the tax year in which the offset occurs to roll over the
qualified plan loan offset amount.
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Amended returns. If you are filing an amended 2023 Form
5329, check the box at the top of page 1 of the form. Don’t use
the 2023 Form 5329 to amend your return for any other year. For
information about amending a Form 5329 for a prior year, see
Prior tax years, earlier.
Part I—Additional Tax on Early
Distributions
In general, if you receive an early distribution (including an
involuntary cashout) from an IRA, other qualified retirement plan,
or modified endowment contract, the part of the distribution
included in income is generally subject to the 10% additional tax.
Distributions from Roth IRAs, later.
If a retirement account has been wrongfully levied by the
IRS, the amount returned plus interest on such amount may
be contributed to the account or to an IRA (other than an
endowment contract) to which such a rollover contribution is
permitted. You have until the due date, excluding extensions,
for filing your tax return for the tax year in which the amount
is returned to make the contribution.
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The additional tax on early distributions doesn’t apply to any
of the following.
A qualified disaster recovery distribution (certain
distributions relating to disasters occurring on or after
January 26, 2021), or qualified disaster distributions. See
Form 8915-F for more details.
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In-plan Roth rollover. If you are a participant in a 401(k),
403(b), or governmental 457(b) plan, your plan may permit you
to roll over amounts from those plans to a designated Roth
account within the same plan. The rollover of any untaxed
amounts must be included in income. The 10% additional tax on
early distributions doesn’t apply. For more information, see
In-plan Roth rollovers under Rollovers in Pub. 575.
A qualified distribution from a retirement plan for the birth or
adoption of a child of up to $5,000 if made during the 1-year
period beginning on the date your child was born or
adopted. Attach a statement that provides the name, age,
and TIN of the child or eligible adoptee. If the child died
before you obtained a TIN, then write that the child died on
the statement and include a copy of the child’s birth
certificate, death certificate, or hospital records.
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ABLE rollover. For an ABLE account, a rollover means a
contribution to an ABLE account of a designated beneficiary (or
of an eligible individual who is a member of the family of the
designated beneficiary) of all or a portion of an amount
withdrawn from the designated beneficiary's ABLE account. The
contribution must be made within 60 days of the withdrawal date;
and, if the rollover is to the designated beneficiary's ABLE
account, there must have been no rollover to an ABLE account
See Notice 2020-68, available at IRS.gov/pub/irs-drop/
n-20-68.pdf, for more information.
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Instructions for Form 5329 (2023)
An eligible adoptee includes any individual (other
than a child of the taxpayer’s spouse) who has not
reached age 18 or who is an adult and is physically
Recapture amount subject to the additional tax on early
distributions. If you have ever made an in-plan Roth rollover
and you received an early distribution for 2023, the recapture
amount to include on line 1 is a portion of the amounts you rolled
over.
The recapture amount that you must include on line 1 won’t
exceed the amount of your early distribution; and, for purposes
of determining this recapture amount, you will allocate a rollover
amount (or portion thereof) to an early distribution only once.
For more information about the recapture amount for early
distributions from a designated Roth account, including how to
figure it, see Tax on Early Distributions under Special Additional
Taxes in Pub. 575.
TIP
or mentally incapable of self-support.
A qualified HSA funding distribution from an IRA (other than
a SEP or SIMPLE IRA). See Qualified HSA funding
distribution under Health Savings Accounts in Pub. 969 for
details.
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A distribution from a traditional or SIMPLE IRA that was
converted to a Roth IRA.
A rollover from a qualified retirement plan to a Roth IRA.
An in-plan Roth rollover.
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A distribution of certain excess IRA contributions (see the
later).
Distributions from Roth IRAs. If you received an early
distribution from your Roth IRAs, include on line 1 the part of the
distribution that you must include in your income. You will find
this amount on line 25c of your 2023 Form 8606. You will also
need to include on line 1 the following amounts.
Any related IRA earnings withdrawn with excess IRA
contributions are taxable and must be reported on
line 1. Beginning on December 29, 2022, the 10%
TIP
additional tax on early distributions does not apply to an IRA
distribution made pursuant to the rules of section 408(d)(4),
which consists of a contribution for that year and any
earnings allocable to the contribution, as long as the
distribution is made on or before the due date (including
extensions) of the income tax return. Report this amount on
line 2 and enter exception number 21.
A qualified first-time homebuyer distribution from line 20 of
your 2023 Form 8606. Also include this amount on line 2
and enter exception number 09.
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Recapture amounts attributable to any conversions or
rollovers to your Roth IRAs in 2019 through 2023. See
distributions, next.
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A distribution of excess deferrals. Excess deferrals include
distributions of excess contributions from a qualified cash or
deferred arrangement (401(k) plan), excess contributions
from a tax-sheltered annuity (403(b) plan), excess
contributions from a salary reduction SEP IRA, and excess
contributions from a SIMPLE IRA.
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If you didn’t have a qualified first-time homebuyer
distribution in 2023, and you didn’t convert or roll over an
amount to your Roth IRAs in 2019 through 2023, you
TIP
only need to include the amount from line 25c of your 2023 Form
8606 on line 1 of this form.
Recapture amount subject to the additional tax on early
distributions. If you converted or rolled over an amount to your
Roth IRAs in 2019 through 2023 and you received an early
distribution for 2023, the recapture amount you must include on
line 1 is the amount, if any, of the early distribution allocated to
the taxable portion of your 2019 through 2023 conversions or
rollovers.
A distribution of excess aggregate contributions to meet
nondiscrimination requirements for employee contributions
and matching employer contributions.
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A distribution from an eligible governmental section 457
deferred compensation plan to the extent the distribution
isn’t attributable to an amount transferred from a qualified
retirement plan.
Generally, an early distribution is allocated to your Roth IRA
contributions first, then to your conversions and rollovers on a
first-in, first-out basis. For each conversion or rollover, you must
first allocate the early distribution to the portion that was subject
to tax in the year of the conversion or rollover, and then to the
portion that wasn’t subject to tax. The recapture amount is the
sum of the early distribution amounts that you allocate to these
taxable portions of your conversions or rollovers.
The recapture amount that you must include on line 1 won’t
exceed the amount of your early distribution; and, for purposes
of determining this recapture amount, you will allocate a
contribution, conversion, or rollover amount (or portion thereof)
to an early distribution only once.
For more information about the recapture amount for
distributions from a Roth IRA, including how to figure it, see
Ordering Rules for Distributions under Are Distributions Taxable?
illustrates a situation where a taxpayer must include a recapture
amount on line 1.
Example. You converted $20,000 from a traditional IRA to a
Roth IRA in 2019 and converted $10,000 in 2020. Your 2019
Form 8606 had $5,000 on line 17 and $15,000 on line 18, and
your 2020 Form 8606 had $3,000 on line 17 and $7,000 on
line 18. You made Roth IRA contributions of $2,000 for 2019 and
2020. You didn’t make any Roth IRA conversions or contributions
for 2021 through 2023, or take any Roth IRA distributions before
2023.
aren’t subject to the additional tax.
Line 1
Enter the amount of early distributions includible in income
(other than qualified disaster distributions, including qualified
disaster recovery distributions) that you received from:
A qualified retirement plan including earnings on withdrawn
excess contributions to your IRAs included in income in
2023; or
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A modified endowment contract.
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Certain prohibited transactions involving your IRA, such as
borrowing from your IRA or pledging your IRA assets as security
for a loan, are considered to be distributions and are generally
subject to the additional tax on early distributions. See Prohibited
Transactions under What Acts Result in Penalties or Additional
Taxes? in Pub. 590-B for details.
Distributions from a designated Roth account. If you
received an early distribution from your designated Roth
account, include on line 1 the amount of the distribution that you
must include in your income. You will find this amount in box 2a
of your 2023 Form 1099-R. You may also need to include a
recapture amount on line 1 if you have ever made an in-plan
Roth rollover (discussed later).
If you never made an in-plan Roth rollover, you need to
include on line 1 of this form only the amount from
box 2a of your 2023 Form 1099-R reporting the early
TIP
On July 10, 2023, at age 53, you took a $33,000 distribution
distribution.
from your Roth IRA. Your 2023 Form 8606 shows $33,000 on
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Instructions for Form 5329 (2023)
line 19; $29,000 on line 23 ($33,000 minus $4,000 for your
contributions on line 22); and $0 on line 25a ($29,000 minus
your basis in conversions of $30,000).
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IRA distributions made to certain unemployed individuals
for health insurance premiums.
IRA distributions made for qualified higher education
expenses.
First, $4,000 of the $33,000 is allocated to your 2023 Form
8606, line 22; then $15,000 to your 2019 Form 8606, line 18;
$5,000 to your 2019 Form 8606, line 17; and $7,000 to your
2020 Form 8606, line 18. The remaining $2,000 is allocated to
the $3,000 on your 2020 Form 8606, line 17. On line 1, enter
$22,000 ($15,000 allocated to your 2019 Form 8606, line 18,
plus the $7,000 that was allocated to your 2020 Form 8606,
line 18).
If you take a Roth IRA distribution in 2024, the first $1,000 will
be allocated to the $1,000 remaining from your 2020 Form 8606,
line 17, and won’t be subject to the additional tax on early
distributions.
IRA distributions made for the purchase of a first home, up
to $10,000.
Qualified retirement plan distributions made due to an IRS
levy.
Qualified distributions to reservists while serving on active
duty for at least 180 days.
Distributions incorrectly indicated as early distributions by
code 1, J, or S in box 7 of Form 1099-R. Include on line 2
the amount you received when you were age 591/2 or older.
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Distributions from a section 457 plan, which aren’t from a
rollover from a qualified retirement plan.
Distributions from a plan maintained by an employer if:
1. You separated from service by March 1, 1986;
2. As of March 1, 1986, your entire interest was in pay
status under a written election that provides a specific
schedule for the distribution of your entire interest; and
Additional information. For more details, see Are Distributions
Taxable? in chapters 1 and 2 of Pub. 590-B.
Line 2
The additional tax on early distributions doesn’t apply to the
distributions described next. Enter on line 2 the amount that you
can exclude. In the space provided, enter the applicable
exception number (01–21). If more than one exception applies,
enter 99.
3. The distribution is actually being made under the
written election.
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Distributions that are dividends paid with respect to stock
described in section 404(k).
Distributions from annuity contracts to the extent that the
distributions are allocable to the investment in the contract
before August 14, 1982. For additional exceptions that
apply to annuities, see Tax on Early Distributions under
Special Additional Taxes in Pub. 575.
Exceptions to the Additional Tax on Early
Distributions
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Distributions that are phased retirement annuity payments
made to federal employees. See Pub. 721 for more
information on the phased retirement program.
Permissible withdrawals under section 414(w).
Qualified birth or adoption distributions. Attach a statement
that provides the name, age, and TIN of the child or eligible
adoptee.
No. Exception
01
Qualified retirement plan distributions (doesn’t apply to
IRAs) you received after separation from service when the
separation from service occurs in or after the year you
reach age 55 (age 50 for qualified public safety employees
and private sector firefighters) or 25 years of service under
the plan, whichever is earlier. For this purpose, the term
“qualified public safety employee” includes a state or local
government corrections officer or forensic security
employee providing for the care, custody, and control of
forensic patients.
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Distributions due to terminal illness. Distributions that are
made on or after the date on which your physician has
certified that you have a terminal illness or physical
condition that can reasonably be expected to result in
death in 84 months or less after the date of the certification.
See Notice 2024-02, available at IRS.gov/pub/irs-drop/
n-24-02.pdf, for more information.
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Distributions made as part of a series of substantially equal
periodic payments (made at least annually) for your life (or
life expectancy) or the joint lives (or joint life expectancies)
of you and your designated beneficiary (if from an
employer plan, payments must begin after separation from
service). Distributions received as periodic payments on or
after December 29, 2022, will not fail to be treated as
substantially equal merely because they are received as an
annuity. And, these distributions received as periodic
payments will be deemed to be substantially equal if they
are payable over a period that satisfies the section 401(a)
(9) requirements relating to annuity payments. For more
information see Pub. 590-B.
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99
Corrective distributions of the income on excess
contributions distributed before the due date of the tax
return (including extensions).
Enter this exception number if more than one exception
applies.
Line 4
If any amount on line 3 was a distribution from a SIMPLE IRA
received within 2 years from the date you first participated in the
SIMPLE IRA plan, you must multiply that amount by 25% instead
of 10%. These distributions are included in boxes 1 and 2a of
Form 1099-R and are designated with code S in box 7.
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Distributions due to total and permanent disability. You are
considered disabled if you can furnish proof that you can’t
do any substantial gainful activity because of your physical
or mental condition. A medical determination that your
condition can be expected to result in death or to be of
long, continued, and indefinite duration must be made.
Part II—Additional Tax on Certain
Distributions From Education
Accounts and ABLE Accounts
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Distributions due to death (doesn’t apply to modified
endowment contracts).
Qualified retirement plan distributions up to the amount you
paid for unreimbursed medical expenses during the year
minus 7.5% of your adjusted gross income (AGI) for the
year.
Line 5
Distributions from an ABLE account aren’t included in income if
made on or after the death of the designated beneficiary:
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Qualified retirement plan distributions made to an alternate
payee under a qualified domestic relations order (doesn’t
apply to IRAs).
To the estate of the designated beneficiary;
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To an heir or legatee of the designated beneficiary; or
To pay outstanding obligations due for qualified disability
expenses of the designated beneficiary, including a claim
filed by a state under a state Medicaid plan.
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Instructions for Form 5329 (2023)
The total contributions to your traditional IRAs for the tax
year for which the excess contributions were made weren’t
more than the amounts shown in the following table.
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Line 6
The additional tax doesn’t apply to the distributions that are
includible in income described next. Enter on line 6 the amount
from line 5 that you can exclude.
Year(s)
Contribution
limit
Contribution limit if
age 50 or older at
the end of the year
Distributions made due to the death or disability of the
beneficiary.
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Distributions from an education account made on account of
a tax-free scholarship, allowance, or payment described in
section 25A(g)(2).
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2019 through 2022
2013 through 2018
2008 through 2012
2006 or 2007
$6,000
$5,500
$5,000
$4,000
$4,000
$3,000
$2,000
$2,250
$7,000
$6,500
$6,000
$5,000
$4,500
$3,500
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Distributions from an education account made because of
attendance by the beneficiary at a U.S. military academy.
This exception applies only to the extent that the distribution
doesn’t exceed the costs of advanced education (as defined
in title 10 of the U.S. Code) at the academy.
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2005
Distributions from an education account included in income
because you used the qualified education expenses to
figure the American opportunity and lifetime learning credits.
2002 through 2004
1997 through 2001
before 1997
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Part III—Additional Tax on Excess
Contributions to Traditional IRAs
If the excess contribution to your traditional IRA for the
year included a rollover and the excess occurred because
the information the plan was required to give you was
incorrect, increase the contribution limit amount for the year
shown in the table above by the amount of the excess that is
due to the incorrect information.
If the total contributions for the year included employer
contributions to a SEP, increase the contribution limit
amount for the year shown in the table above by the smaller
of the amount of the employer contributions or:
If you contributed more for 2023 than is allowable or you had an
amount on line 17 of your 2022 Form 5329, you may owe this
tax. But you may be able to avoid the tax on any 2023 excess
Line 9
Enter the amount from line 16 of your 2022 Form 5329 only if the
amount on line 17 of your 2022 Form 5329 is more than zero.
Line 10
2022
$61,000
$58,000
$57,000
$56,000
$55,000
$54,000
$53,000
$52,000
$51,000
$50,000
$49,000
$46,000
$45,000
$44,000
$42,000
$41,000
$40,000
$35,000
$30,000
Enter the difference, if any, of your contribution limit for traditional
IRAs less your contributions to traditional IRAs and Roth IRAs for
2023.
2021
2020
If you aren’t married filing jointly, your contribution limit for
traditional IRAs is the smaller of your taxable compensation or
$6,500 ($7,500 if age 50 or older at the end of 2023). If you are
married filing jointly, your contribution limit is generally $6,500
($7,500 if age 50 or older at the end of 2023) and your spouse's
contribution limit is $6,500 ($7,500 if age 50 or older at the end
of 2023). But if the combined taxable compensation for you and
your spouse is less than $13,000 ($14,000 if one spouse is 50 or
older at the end of 2023; $15,000 if both spouses are 50 or older
at the end of 2023), see How Much Can Be Contributed? for
special rules and What Is Compensation? in Pub. 590-A for
additional information.
2019
2018
2017
2015 or 2016
2014
2013
2012
2009, 2010, or 2011
2008
Also include on line 11a or 11b of the IRA Deduction
Worksheet—Schedule 1, Line 20, in the Instructions for Form
1040 or the Instructions for Form 1040-NR, the smaller of:
2007
2006
Form 5329, line 10; or
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The excess, if any, of Form 5329, line 9, over the sum of
Form 5329, lines 11 and 12 (which you will complete next).
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2005
2004
Line 11
2002 or 2003
2001
Enter on line 11 any withdrawals from your traditional IRAs that
are included in your income. Don’t include any withdrawn
contributions reported on line 12.
before 2001
Line 12
Enter on line 12 any amounts included on line 9 that are excess
contributions to your traditional IRAs for 1976 through 2021 that
you had returned to you in 2023 and any 2022 excess
Line 15
Enter the excess of your contributions to traditional IRAs for 2023
(unless withdrawn—discussed next) over your contribution limit
for traditional IRAs. Also, if you hadn't reached age 59 1/2 at the
time of the withdrawal, include the earnings as an early
contributions that you had returned to you in 2023 after the due
date (including extensions) of your 2022 income tax return if:
You didn’t claim a deduction for the excess contributions,
No traditional IRA deduction was allowable (without regard
to the modified AGI limitation) for the excess contributions,
and
•
distribution on line 1 on Form 5329 for the year in which you
figure your contribution limit for traditional IRAs. Don’t include
•
5
Instructions for Form 5329 (2023)
rollovers in figuring your excess contributions. See Difficulty of
care payments in Pub. 590-A for an exception for nondeductible
contributions made based on a type of foster care payment
received.
weren’t eligible to contribute to a Roth IRA in 2021. On
September 7, 2023, you withdrew $800, the entire balance in the
Roth IRA. You must file Form 5329 for 2021 and 2022 to pay the
additional taxes for those years. When you complete Form 5329
for 2023, you enter $1,000 (not $800) on line 20 because you
withdrew the entire balance.
You can withdraw some or all of your excess contributions for
2023 and they will be treated as not having been contributed if:
You make the withdrawal by the due date, including
extensions, of your 2023 tax return;
•
•
•
Line 23
Enter the excess of your contributions to Roth IRAs for 2023
(unless withdrawn—discussed below) over your contribution limit
your contribution limit for Roth IRAs.
You don’t claim a traditional IRA deduction for the withdrawn
contributions; and
You withdraw any earnings on the withdrawn contributions
and include the earnings in gross income (see the
Instructions for Form 8606 for details). Also, if you hadn't
reached age 59 1/2 at the time of the withdrawal, include the
earnings as an early distribution on line 1 of Form 5329 for
the year in which you report the earnings. Report this
amount on line 2 and enter exception number 21.
Don’t include rollovers in figuring your excess contributions.
You can withdraw some or all of your excess contributions for
2023 and they will be treated as not having been contributed if:
You make the withdrawal by the due date, including
extensions, of your 2023 tax return; and
•
If you timely filed your return without withdrawing the excess
You withdraw any earnings on the withdrawn contributions
and include the earnings in gross income (see the
Instructions for Form 8606 for details). Also, if you hadn't
reached age 59 1/2 at the time of the withdrawal, include the
earnings as an early distribution on line 1 of Form 5329 for
the year in which you report the earnings. Report this
amount on line 2 and enter exception number 21.
•
contributions, you can still make the withdrawal no later than 6
months after the due date of your tax return, excluding
extensions. If you do, file an amended return with “Filed pursuant
to section 301.9100-2” entered at the top. Report any related
earnings for 2023 on the amended return and include an
explanation of the withdrawal. Make any other necessary
changes on the amended return (for example, if you reported the
contributions as excess contributions on your original return,
include an amended Form 5329 reflecting that the withdrawn
contributions are no longer treated as having been contributed).
If you timely filed your return without withdrawing the excess
contributions, you can still make the withdrawal no later than 6
months after the due date of your tax return, excluding
extensions. If you do, file an amended return with “Filed pursuant
to section 301.9100-2” entered at the top. Report any related
earnings for 2023 on the amended return and include an
explanation of the withdrawal. Make any other necessary
changes on the amended return (for example, if you reported the
contributions as excess contributions on your original return,
include an amended Form 5329 reflecting that the withdrawn
contributions are no longer treated as having been contributed).
Part IV—Additional Tax on Excess
Contributions to Roth IRAs
If you contributed more to your Roth IRA for 2023 than is
allowable or you had an amount on line 25 of your 2022 Form
5329, you may owe this tax. But you may be able to avoid the tax
on any 2023 excess contributions (see the instructions for
line 23, later).
Part V—Additional Tax on Excess
Contributions to Coverdell ESAs
Line 18
Enter the amount from line 24 of your 2022 Form 5329 only if the
amount on line 25 of your 2022 Form 5329 is more than zero.
If the contributions to your Coverdell ESAs for 2023 were more
than is allowable or you had an amount on line 33 of your 2022
Form 5329, you may owe this tax. But you may be able to avoid
the tax on any 2023 excess contributions (see the instructions for
line 31, later).
Line 19
If you contributed less to your Roth IRAs for 2023 than your
contribution limit for Roth IRAs, enter the difference. Your
contribution limit for Roth IRAs is generally your contribution limit
reduced by the amount you contributed to traditional IRAs. But
your contribution limit for Roth IRAs may be further reduced or
eliminated if your modified AGI for Roth IRA purposes is over:
Line 26
Enter the amount from line 32 of your 2022 Form 5329 only if the
amount on line 33 of your 2022 Form 5329 is more than zero.
Line 27
$218,000 if married filing jointly or qualifying surviving
spouse;
•
Enter the excess, if any, of the maximum amount that can be
contributed to your Coverdell ESAs for 2023 over the amount
actually contributed for 2023. Your contribution limit is the
smaller of $2,000 or the sum of the maximum amounts the
contributor(s) to your Coverdell ESAs are allowed to contribute.
The maximum contribution may be limited based on the
contributor's modified AGI. See Contributions in chapter 7 of
Pub. 970 for details.
$138,000 if single, head of household, or married filing
separately and you didn’t live with your spouse at any time in
2023; or
•
$0 if married filing separately and you lived with your spouse
•
at any time in 2023.
See Can You Contribute to a Roth IRA? in Pub. 590-A for
details.
Line 28
Line 20
Enter your total distributions from Coverdell ESAs in 2023. Don’t
include rollovers or withdrawn excess contributions.
Generally, enter the amount from Form 8606, line 19, plus any
qualified distributions. But if you withdrew the entire balance of
all of your Roth IRAs, don’t enter less than the amount on Form
Line 31
Enter the excess of the contributions to your Coverdell ESAs for
2023 (unless withdrawn—discussed below) over your
Example. You contributed $1,000 to a Roth IRA in 2021,
your only contribution to Roth IRAs. In 2023, you discovered you
contribution limit for Coverdell ESAs. See the instructions for
6
Instructions for Form 5329 (2023)
line 27, earlier, to figure your contribution limit for Coverdell
ESAs.
to section 301.9100-2” entered at the top. Report any related
earnings for 2023 on the amended return and include an
explanation of the withdrawal. Make any other necessary
changes on the amended return (for example, if you reported the
contributions as excess contributions on your original return,
include an amended Form 5329 reflecting that the withdrawn
contributions are no longer treated as having been contributed).
Don’t include rollovers in figuring your excess contributions.
You can withdraw some or all of the excess contributions for
2023 and they will be treated as not having been contributed if:
You make the withdrawal before June 1, 2024; and
You also withdraw any income earned on the withdrawn
contributions and include the earnings in gross income for
the year in which the contribution was made.
•
•
Part VII—Additional Tax on Excess
Contributions to Health Savings
Accounts (HSAs)
If you filed your return without withdrawing the excess
contributions, you can still make the withdrawal, but it must be
made before June 1, 2024. If you do, file an amended return.
Report any related earnings for 2023 on the amended return and
include an explanation of the withdrawal. Make any other
necessary changes on the amended return (for example, if you
reported the contributions as excess contributions on your
original return, include an amended Form 5329 reflecting that the
withdrawn contributions are no longer treated as having been
contributed).
If you, someone on your behalf, or your employer contributed
more to your HSAs for 2023 than is allowable or you had an
amount on line 49 of your 2022 Form 5329, you may owe this
tax. But you may be able to avoid the tax on any 2023 excess
Line 42
Enter the amount from line 48 of your 2022 Form 5329 only if the
amount on line 49 of your 2022 Form 5329 is more than zero.
Part VI—Additional Tax on Excess
Contributions to Archer MSAs
Line 43
If contributions to your HSAs for 2023 (line 2 of Form 8889,
Health Savings Accounts (HSAs)) were less than your
contribution limit for HSAs, enter the difference on line 43. Your
contribution limit for HSAs is the amount on line 12 of Form
8889.
If you or your employer contributed more to your Archer MSA for
2023 than is allowable or you had an amount on line 41 of your
2022 Form 5329, you may owe this tax. But you may be able to
avoid the tax on any 2023 excess contributions (see the
Also include on your 2023 Form 8889, line 13, the smaller of:
Form 5329, line 43; or
•
•
Line 34
The excess, if any, of Form 5329, line 42, over Form 5329,
line 44.
Enter the amount from line 40 of your 2022 Form 5329 only if the
amount on line 41 of your 2022 Form 5329 is more than zero.
Line 47
Line 35
Enter the excess of your contributions (made by you or on your
behalf) to your HSAs for 2023 from Form 8889, line 2 (unless
withdrawn—discussed next), over your contribution limit (Form
8889, line 12). Also include on line 47 any excess contributions
your employer made. See the Instructions for Form 8889 for
details.
If contributions to your Archer MSAs for 2023 were less than
your contribution limit for Archer MSAs, enter the difference on
line 35. Your contribution limit for Archer MSAs is the smaller of
line 3 or line 4 of Form 8853, Archer MSAs and Long-Term Care
Insurance Contracts.
Also include on your 2023 Form 8853, line 5, the smaller of:
You can withdraw some or all of the excess contributions for
2023 and they will be treated as not having been contributed if:
Form 5329, line 35; or
•
•
The excess, if any, of Form 5329, line 34, over Form 5329,
line 36.
You make the withdrawal by the due date, including
extensions, of your 2023 return; and
•
You withdraw any income earned on the withdrawn
contributions and include the earnings in gross income for
the year in which you receive the withdrawn contributions
and earnings.
•
Line 39
Enter the excess of your contributions to your Archer MSA for
2023 from Form 8853, line 2 (unless withdrawn—discussed
next), over your contribution limit (the smaller of line 3 or line 4 of
Form 8853). Also include on line 39 any excess contributions
your employer made. See the Instructions for Form 8853 for
details.
Include the withdrawn contributions and related earnings on
Form 8889, lines 14a and 14b.
If you timely filed your return without withdrawing the excess
contributions, you can still make the withdrawal no later than 6
months after the due date of your tax return, excluding
You can withdraw some or all of the excess contributions for
2023 and they will be treated as not having been contributed if:
extensions. If you do, file an amended return with “Filed pursuant
to section 301.9100-2” entered at the top. Report any related
earnings for 2023 on the amended return and include an
explanation of the withdrawal. Make any other necessary
changes on the amended return (for example, if you reported the
contributions as excess contributions on your original return,
include an amended Form 5329 reflecting that the withdrawn
contributions are no longer treated as having been contributed).
You make the withdrawal by the due date, including
extensions, of your 2023 tax return; and
•
You withdraw any income earned on the withdrawn
contributions and include the earnings in gross income for
the year in which you receive the withdrawn contributions
and earnings.
•
Include the withdrawn contributions and related earnings on
Form 8853, lines 6a and 6b.
If you timely filed your return without withdrawing the excess
contributions, you can still make the withdrawal no later than 6
months after the due date of your tax return, excluding
extensions. If you do, file an amended return with “Filed pursuant
7
Instructions for Form 5329 (2023)
Owner's Required Minimum Distribution under When Must You
Withdraw Assets? in Pub. 590-B.
Part VIII—Additional Tax on Excess
Contributions to ABLE Accounts
If the trustee, custodian, or issuer of your IRA informs you of
the minimum required distribution, you can use that amount.
than is allowable, you may owe tax on the net income resulting
from the excess contribution.
For more details on the minimum distribution rules (including
examples), see When Must You Withdraw Assets? in Pub.
590-B.
Line 50
Roth IRA. There are no minimum required distributions during
the lifetime of the owner of a Roth IRA. Following the death of the
Roth IRA owner, required distribution rules apply to the
beneficiary. See Must You Withdraw or Use Assets? in Pub.
590-B for details.
Enter the excess, if any, of the contributions to your ABLE
account for 2023 over the contribution limit. Total contributions
(including contributions from a section 529 account) made to
your ABLE account for 2023 may not exceed $17,000 plus, in the
case of an employed designated beneficiary, the applicable
amount under section 529A(b)(2)(B)(ii).
Qualified retirement plans (other than IRAs) and eligible
section 457 deferred compensation plans. In general, you
must begin receiving distributions from your plan no later than
April 1 following the later of (a) the year in which you reach age
72 (age 73 if you reach age 72 in 2023 or later years), or (b) the
year in which you retire.
Exception. If you owned more than 5% of the employer
maintaining the plan, you must begin receiving distributions no
later than April 1 of the year following the year in which you reach
age 72 (age 73 if you reach age 72 in 2023 or later years),
regardless of when you retire.
in figuring your excess contributions.
You won’t incur a tax on a contribution to your ABLE account
that is in excess of the contribution limit if the qualified ABLE
program returns the contribution, including all net income
attributable to the contribution, to the person who made the
contribution (the “contributor”), and the contributor receives the
contribution on or before the due date (including extensions) for
filing your federal income tax return. Any net income distributed
from the excess contribution to the ABLE account is includible in
the gross income of the contributor in the tax year in which the
excess contribution was made.
Your plan administrator should figure the amount that must be
distributed each year.
Line 53
If the contributor receives the contribution after you have filed
your original tax return but before the due date (including
extensions) for filing your return, you may file an amended return
reflecting the return of the contribution to the contributor with
“Filed pursuant to section 301.9100-2” entered at the top. Make
any necessary changes on the amended return. For example, if
you reported the contribution as excess contributions on your
original return, include an amended Form 5329 reflecting that the
withdrawn contributions are no longer treated as having been
contributed.
Enter the amount actually distributed towards the required
minimum distribution from all plans. Do not include on line 53
any distribution(s) received after the deadline for taking the
Distributions that satisfy minimum distribution rules.
Generally, all distributions from an account count towards the
minimum distribution requirements. If you received more than the
minimum required distribution from any account, do not include
the excess on line 53 unless those accounts may be aggregated
under the following rules.
Part IX—Additional Tax on Excess
Accumulation in Qualified Retirement
Plans (Including IRAs)
A qualified charitable distribution will count towards your
minimum required distribution. See Qualified charitable
distributions under Are Distributions Taxable? in
TIP
chapter 1 of Pub. 590-B for more information.
You owe this tax if you don’t receive the minimum required
distribution from your qualified retirement plan, including an IRA
or an eligible section 457 deferred compensation plan. For tax
years beginning on or after December 29, 2022, the additional
tax is 25% of the excess accumulation, which is the difference
between the amount that was required to be distributed and the
amount that was actually distributed. The tax is due for the tax
year that includes the last day by which the minimum required
distribution must be taken.The additional tax is reduced to 10%
of the excess accumulation if you meet certain requirements.
IRA (other than a Roth IRA). The minimum required
distribution must be figured separately for each IRA you own, but
you can generally withdraw the total amount from one or more of
your IRAs that are not Roth IRAs. If you are the beneficiary of an
inherited IRA, then only distributions from IRAs inherited from
the same decedent can be combined to satisfy the minimum
required distribution for all inherited IRAs from that decedent. For
more information, see Treas. Reg. 1.408-8.
Roth IRA. Only withdrawals from Roth IRAs inherited from the
same decedent can be combined to satisfy the minimum
required distribution for all inherited Roth IRAs from that
decedent. For more information, see Treas. Reg. 1.408-8.
Line 52
IRA (other than a Roth IRA). Generally, you must start
receiving distributions from your IRA by April 1 of the year
following the year in which you reach age 72. However, if you
become age 72 in 2023 or later, you must start receiving
distributions from your IRA by April 1 of the year following the
year in which you reach age 73. At that time, you can receive
your entire interest in the IRA or begin receiving periodic
distributions. If you choose to receive periodic distributions, you
must receive a minimum required distribution each year. You can
figure the minimum required distribution by dividing the account
balance of your IRAs (other than Roth IRAs) on December 31 of
the year preceding the distribution by the applicable life
expectancy. For applicable life expectancies, see Figuring the
Qualified retirement plans (other than IRAs). Qualified plans
cannot aggregate distributions for purposes of meeting the
minimum required distribution requirement. You must figure the
amount of the minimum required distribution separately for each
plan and withdraw that amount from the specific plan. See Treas.
Reg. 1.401(a)(9)-8 for more information.
If you have more than one 403(b) tax-sheltered annuity
account, you can total the RMDs and then take them
from any one (or more) of the tax-sheltered annuities.
TIP
8
Instructions for Form 5329 (2023)
Enter 25% or 10%, as applicable, of line 54. If you apply the
10% rate, then check the box on line 55. Also include this
amount on Schedule 2 (Form 1040), line 8.
Line 54
This is your total excess accumulation.
Waiver of tax for reasonable cause. The IRS can waive part
or all of this tax if you can show that any shortfall in the amount of
distributions was due to reasonable error and you are taking
reasonable steps to remedy the shortfall. If you believe you
qualify for this relief, attach a statement of explanation and file
Form 5329 as follows.
For trusts and estates, include this amount on Form 1041,
Schedule G, line 8. Enter “From Form 5329” and the amount of
the tax to the left of the line 8 entry space.
If you had excess accumulations in more than one qualified
retirement plan, including an IRA, or eligible section 457 deferred
additional tax.
1. Complete lines 52 and 53 as instructed.
2. Enter “RC” and the amount of the shortfall you want waived
in parentheses on the dotted line next to line 54. Subtract
this amount from the total shortfall you figured without
regard to the waiver, and enter the result on line 54.
Reduced tax rate. Generally, the additional tax rate for
distributions that are less than the minimum required distribution
amount (excess accumulations) is 25% for tax years beginning
after December 29, 2022.
3. Complete line 55 as instructed. You must pay any tax due
that is reported on line 55.
You may be eligible for a reduced tax rate of 10% if, during the
correction period, you:
The IRS will review the information you provide and decide
whether to grant your request for a waiver. If your request is not
granted, the IRS will notify you regarding any additional tax you
may owe on the shortfall.
1. Receive a distribution of the amount that resulted in the
excess accumulation from the plan for which the tax was
imposed; and
2. Submit a return reflecting the additional tax.
Line 55
Correction window. The correction window is the period of
time beginning on the date on which the additional tax is
imposed on the distribution shortfall and ends on the earliest of
the following dates:
To figure the additional tax on the excess accumulation, you
must first determine which tax rate applies.
If you had an excess accumulation in only one qualified
retirement plan, including an IRA, or eligible section 457 deferred
compensation plan, then you will apply:
The date of mailing the deficiency notice with respect to the
imposition of this tax; or
•
The date the tax is assessed; or
•
•
25%, if you did not satisfy the requirements under Reduced
•
The last day of the second taxable year that begins after the
end of the taxable year in which the additional tax is
imposed.
tax rate; or
10%, if you satisfied the requirements under Reduced tax
rate.
•
Line 55 Worksheet
Part I. Excess Accumulation(s) Subject to 10% Tax
1. Did you receive a distribution of the full amount of the excess accumulation from at least one qualified plan during the correction
[ ] Yes. Go to line 2. Also, check the box on Form 5329, line 55. [ ] No. Go to Part II
2. Enter the portion of line 52 from all plans for which you answered “Yes” on line 1 . . . . . . . . . .
3. Enter the portion of line 53 from all plans for which you answered "Yes" on line 1 . . . . . . . . . .
4. Subtract line 3 from line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3.
4.
5. Multiply the amount on line 4 by 10% (0.10). Continue to Part II if you had an excess
accumulation in at least one plan from which you did not receive a distribution of the full amount
5329, line 55 and on Schedule 2 (Form 1040), line 8 or Form 1041, Schedule G, line 8 . . . . . .
5.
Part II. Excess Accumulation(s) Subject to 25% Tax
6. Enter the portion of line 52 from all plans for which you answered “No” on line 1 . . . . . . . . . . .
6.
7.
8.
9.
7. Enter the portion of line 53 from all plans for which you answered "No" on line 1 . . . . . . . . . . .
8. Subtract line 7 from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Multiply the amount on line 8 by 25% (0.25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10. Add line 5 and line 9. Enter the total on Form 5329, line 55 and on Schedule 2 (Form 1040),
line 8 or Form 1041, Schedule G, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.
9
Instructions for Form 5329 (2023)
Privacy Act and Paperwork Reduction Act Notice.
information are confidential, as required by section 6103.
We ask for the information on this form to carry out the Internal
Revenue laws of the United States. We need this information to
ensure that you are complying with these laws and to allow us to
figure and collect the right amount of tax. You are required to
give us this information if you made certain contributions or
received certain distributions from qualified plans, including
IRAs, and other tax-favored accounts. Our legal right to ask for
the information requested on this form is sections 6001, 6011,
6012(a), and 6109 and their regulations. If you do not provide
this information, or you provide incomplete or false information,
you may be subject to penalties.
However, we may give this information to the Department of
Justice for civil and criminal litigation, and to cities, states, the
District of Columbia, and U.S. commonwealths and territories to
carry out their tax laws. We may also disclose this information to
other countries under a tax treaty, to federal and state agencies
to enforce federal nontax criminal laws, or to federal law
enforcement and intelligence agencies to combat terrorism.
The average time and expenses required to complete and file
this form will vary depending on individual circumstances. For
the estimated averages, see the instructions for your income tax
return.
You are not required to provide the information requested on
a form that is subject to the Paperwork Reduction Act unless the
form displays a valid OMB control number. Books or records
relating to a form or its instructions must be retained as long as
their contents may become material in the administration of any
Internal Revenue law. Generally, tax returns and return
If you have suggestions for making this form simpler, we
would be happy to hear from you. See the instructions for your
income tax return.
10
Instructions for Form 5329 (2023)