Fill out Form 5329 (Additional Taxes on Qualified Plans and Other Tax-Favored Accounts) online
Form 5329 is used to report and calculate additional taxes on early distributions from qualified retirement plans and IRAs, excess contributions to IRAs and other tax-favored accounts, and failures to take required minimum distributions (RMDs). It covers the 10% early withdrawal penalty and other excise taxes related to retirement accounts.
How to fill out Form 5329 (Additional Taxes on Qualified Plans and Other Tax-Favored Accounts)
Report early distributions (Part I)
Enter early distributions from qualified retirement plans, IRAs, or annuities received before age 59 1/2. If you qualify for an exception (disability, medical expenses, first-time homebuyer, etc.), enter the exception number and the exempt amount.
Calculate excess contribution penalties (Parts II-IV)
If you made excess contributions to a traditional IRA, Roth IRA, Coverdell ESA, Archer MSA, or HSA, report the excess amounts. The 6% excise tax applies to excess contributions not withdrawn by the tax filing deadline.
Report missed required minimum distributions (Part IX)
If you failed to take a required minimum distribution (RMD) from your retirement account, calculate the 25% excise tax on the shortfall. The penalty may be reduced to 10% if corrected within the correction window.
Request a penalty waiver if applicable
For missed RMDs, you may request a waiver of the excise tax by attaching a statement explaining reasonable cause and showing the shortfall has been corrected. The IRS may waive the penalty if you demonstrate the failure was due to reasonable error.
About Form 5329 (Additional Taxes on Qualified Plans and Other Tax-Favored Accounts)
Who needs this form
Taxpayers who took an early distribution from an IRA or retirement plan before age 59 1/2, made excess contributions to an IRA, HSA, Archer MSA, or Coverdell ESA, or failed to take a required minimum distribution. Also needed if claiming an exception to the 10% early distribution penalty.
Where to submit
Attach Form 5329 to your Form 1040 or 1040-SR when filing your annual federal income tax return. If you only need to file Form 5329 (no other filing requirement), it can be filed as a standalone form with the IRS.
Source and content freshness
- Reviewed: 2026-02-24
- Filing deadlines may shift for weekends and holidays. Verify due dates with official instructions.
Common mistakes to avoid
- Not filing Form 5329 to claim an exception to the 10% early withdrawal penalty (the exception must be reported on the form to avoid the penalty)
- Missing the deadline to correct excess IRA contributions, which triggers a 6% excise tax each year the excess remains
- Failing to take required minimum distributions and not requesting a penalty waiver using the reasonable cause explanation on the form
- Not knowing that certain exceptions exist, such as the substantially equal periodic payments (72(t)) exception or first-time homebuyer exception for IRAs
Frequently asked questions
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What are the exceptions to the 10% early withdrawal penalty?
Common exceptions include distributions due to disability, death, substantially equal periodic payments (72(t) rule), medical expenses exceeding a percentage of AGI, qualified higher education expenses (IRAs only), first-time homebuyer expenses up to $10,000 (IRAs only), and separation from service at age 55 or older (employer plans only). Each exception has its own requirements and must be reported on Form 5329 using the appropriate exception number.
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