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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 5329
for the current year.
IRS Form 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
What Is IRS Form 5329?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 5329?
A: IRS Form 5329 is a form used to report additional taxes on qualified plans, including IRAs, and other tax-favored accounts.
Q: Who needs to file IRS Form 5329?
A: Individuals who owe additional taxes on their qualified plans or tax-favored accounts need to file IRS Form 5329.
Q: What are qualified plans?
A: Qualified plans are retirement plans, such as 401(k)s and IRAs, that offer tax advantages.
Q: What are tax-favored accounts?
A: Tax-favored accounts refer to various types of accounts that offer tax benefits, such as health savings accounts (HSAs) and education savings accounts (ESAs).
Q: Why would someone owe additional taxes on qualified plans or tax-favored accounts?
A: Additional taxes may be owed if there are early withdrawals, excess contributions, or other violations of the tax rules governing these accounts.
Q: When is the deadline for filing IRS Form 5329?
A: The deadline for filing IRS Form 5329 is usually the same as the deadline for filing your federal income tax return, which is typically April 15th.
Q: What are the potential penalties for not filing IRS Form 5329?
A: Failure to file IRS Form 5329 or paying the additional taxes owed can result in penalties and interest charges.
Q: Can I file IRS Form 5329 electronically?
A: Yes, you can file IRS Form 5329 electronically if you are e-filing your federal income tax return.
Form Details:
- A 2-page form available for download in PDF;
- This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 5329 through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
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