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2024

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 amount subject to the 10% additional tax, or it’s a qualified
otherwise noted. first-time homebuyer distribution (see Distributions from
Roth IRAs, later).
• You received a distribution subject to the tax on early
General Instructions distributions from a qualified retirement plan (other than a
Roth IRA). However, if distribution code 1 is correctly shown
Future Developments in box 7 of all your Forms 1099-R and you owe the additional
For the latest information about developments related to Form tax on the full amount shown on each Form 1099-R, you
5329 and its instructions, such as legislation enacted after they don’t have to file Form 5329. Instead, see the instructions for
were published, go to IRS.gov/Form5329. Schedule 2 (Form 1040), line 8, in the Instructions for Form
1040, or the Instructions for Form 1040-NR, for how to report
What’s New the 10% additional tax directly on that line.
Distributions to victims of domestic abuse. Beginning with • You received a distribution subject to the tax on early
distributions made after December 31, 2023, a distribution to a distributions from a qualified retirement plan (other than a
domestic abuse victim is not subject to the 10% additional tax on Roth IRA) and you meet an exception to the tax on early
early distributions if certain requirements are met. See Pub. distributions from the list shown later, but box 7 of your Form
590-B for more information. 1099-R doesn’t indicate an exception or the exception
doesn’t apply to the entire distribution.
Distributions for emergency personal expenses. Beginning • You received taxable distributions from Coverdell ESAs,
with distributions made after December 31, 2023, a distribution QTPs, or ABLE accounts.
to an individual for certain emergency personal expenses is not • The contributions for 2024 to your traditional IRAs, Roth
subject to the 10% additional tax on early distributions if certain IRAs, Coverdell ESAs, Archer MSAs, HSAs, or ABLE
requirements are met. See Pub. 590-B for more information. accounts exceed your maximum contribution limit, or you
had a tax due from an excess contribution on line 17, 25, 33,
Reminders 41, or 49 of your 2023 Form 5329.
Certain corrective distributions not subject to 10% early • You didn’t receive the minimum required distribution from
your qualified retirement plan. This also includes trusts and
distribution tax. Beginning on December 29, 2022, the 10%
estates that didn’t receive this amount. See Waiver of tax for
additional tax on early distributions will not apply to a corrective
reasonable cause, later, for information on waiving the tax
IRA distribution, which consists of an excessive contribution (a
on excess accumulations in qualified retirement plans.
contribution greater than the IRA contribution limit) and any
earnings allocable to the excessive contribution, as long as the In general, you must file Form 5329 to report an
corrective distribution is made on or before the due date ! exception to the 10% additional tax on an early
(including extensions) of the income tax return. CAUTION distribution from a qualified retirement plan, including an
IRA .
Qualified disaster distributions. The 10% additional tax on
early distributions doesn't apply to qualified disaster distributions If you rolled over part or all of a distribution from a
nor does it apply to qualified disaster recovery distributions. See TIP qualified retirement plan, the part rolled over isn’t subject
Form 8915-F for more details. to the 10% additional tax on early distributions. See the
Maximum age for traditional IRA contributions. The age instructions for Form 1040, or 1040-NR, lines 4a and 4b or lines
restriction for contributions to a traditional IRA has been 5a and 5b, for how to report the rollover.
eliminated.
When and Where To File
Purpose of Form
File Form 5329 with your 2024 Form 1040, 1040-SR,1040-NR,
Use Form 5329 to report additional taxes on: or 1041 by the due date, including extensions, of your tax return.
• IRAs,
• Other qualified retirement plans, If you don’t have to file a 2024 income tax return, complete
• Modified endowment contracts, and file Form 5329 by itself at the time and place you would be
• Coverdell ESAs, required to file Form 1040, 1040-SR, or 1040-NR. If you file Form
• QTPs, 5329 by itself, then it can’t be filed electronically. Be sure to
• Archer MSAs, include your address on page 1 of the form and your signature
• HSAs, or and the date on page 2 of the form. Enclose, but don’t attach, a
• ABLE accounts. check or money order payable to “United States Treasury” for
any taxes due. Write your social security number and “2024
Who Must File Form 5329” on the check. For information on other payment
You must file Form 5329 if any of the following apply. options, including credit or debit card payments, see the
• You received a distribution from a Roth IRA and either the Instructions for Form 1040 or the Instructions for Form 1040-NR,
amount on line 25c of Form 8606, Nondeductible IRAs, is or go to IRS.gov.
more than zero, or the distribution includes a recapture

Instructions for Form 5329 (2024) Catalog Number 13330R
Nov 25, 2024 Department of the Treasury Internal Revenue Service www.irs.gov

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Prior tax years. If you are filing Form 5329 for a prior year, you permitted. You have until the due date, excluding extensions,
must use the prior year's version of the form. If you don’t have for filing your tax return for the tax year in which the amount
any other changes and haven’t previously filed a federal income is returned to make the contribution.
tax return for the prior year, file the prior year's version of Form In-plan Roth rollover. If you are a participant in a 401(k),
5329 by itself (discussed earlier). If you have other changes, file 403(b), or governmental 457(b) plan, your plan may permit you
Form 5329 for the prior year with Form 1040-X, Amended U.S. to roll over amounts from those plans to a designated Roth
Individual Income Tax Return. account within the same plan. The rollover of any untaxed
amounts must be included in income. The 10% additional tax on
Definitions early distributions doesn’t apply. For more information, see
Qualified retirement plan. A qualified retirement plan includes: In-plan Roth rollovers under Rollovers in Pub. 575.
• A qualified pension, profit-sharing, or stock bonus plan ABLE rollover. For an ABLE account, a rollover means a
(including a 401(k) plan); contribution to an ABLE account of a designated beneficiary (or
• A tax-sheltered annuity contract (403(b) plan); of an eligible individual who is a member of the family of the
• A qualified annuity plan; and designated beneficiary) of all or a portion of an amount
• An IRA. withdrawn from the designated beneficiary's ABLE account. The
contribution must be made within 60 days of the withdrawal date;
Note. Modified endowment contracts aren’t qualified retirement and, if the rollover is to the designated beneficiary's ABLE
plans. account, there must have been no rollover to an ABLE account
Traditional IRAs. For purposes of Form 5329, a traditional IRA of that beneficiary within the prior 12 months. The IRS may
is any IRA, including a simplified employee pension (SEP) IRA, extend the 60-day rollover period for individuals affected by a
other than a SIMPLE IRA or Roth IRA. disaster. An ABLE rollover doesn’t include a contribution to an
ABLE account of funds distributed from a QTP account.
Early distribution. Generally, any distribution from your IRA, Program-to-program transfer. For an ABLE account, a
other qualified retirement plan, or modified endowment contract program-to-program transfer includes the direct transfer of the
before you reach age 59 / is an early distribution.1 2 entire balance of an ABLE account into a second ABLE account
Qualified retirement plan rollover. Generally, a rollover is a if both accounts have the same designated beneficiary and the
tax-free distribution of assets from one qualified retirement plan first ABLE account is closed upon completion of the transfer. A
that is reinvested in another plan or the same plan. Generally, program-to-program transfer also occurs when part or all of the
you must complete the rollover within 60 days of receiving the balance in an ABLE account is transferred to the ABLE account
distribution. Any taxable amount not rolled over must be included of an eligible individual who is a member of the family of the
in income and may be subject to the 10% additional tax on early former designated beneficiary, as long as no intervening
distributions. The IRS may extend the 60-day rollover period for distribution is made to the designated beneficiary.
individuals affected by a disaster.
Additional Information
You can roll over (convert) amounts from a qualified
retirement plan to a Roth IRA. Any amount rolled over to a Roth See the following publications for more information about the
IRA is subject to the same rules for converting a traditional IRA to items in these instructions.
a Roth IRA. You must include in your gross income distributions • Pub. 560, Retirement Plans for Small Business.
from a qualified retirement plan that you would have had to • Pub. 575, Pension and Annuity Income.
include in income if you hadn’t rolled them into a Roth IRA. The • Pub. 590-A, Contributions to Individual Retirement
10% additional tax on early distributions doesn’t apply. For more Arrangements (IRAs).
information, see chapter 2 of Pub. 590-A. • Pub. 590-B, Distributions from Individual Retirement
Arrangements (IRAs).
Pursuant to Rev. Proc. 2020-46 in Internal Revenue Bulletin • Pub. 721, Tax Guide to U.S. Civil Service Retirement
2020-45, available at IRS.gov/irb/2020-45_IRB#REV- Benefits.
PROC-2020-46, you may make a written certification to a plan • Pub. 969, Health Savings Accounts and Other Tax-Favored
administrator or an IRA trustee that you missed the 60-day Health Plans.
rollover contribution deadline because of one or more of the • Pub. 970, Tax Benefits for Education.
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 Specific Instructions
Retirement Plan Assets? in Pub. 590-A for more information on
ways to get a waiver of the 60-day rollover requirement. Joint returns. If both you and your spouse are required to file
Form 5329, complete a separate form for each of you. Include
Note. The following were effective as of January 1, 2018. the combined tax on Schedule 2 (Form 1040), line 8.
• A qualified plan loan offset is a type of plan loan offset that
Amended returns. If you are filing an amended 2024 Form
meets certain requirements. In order to be a qualified plan
5329, check the box at the top of page 1 of the form. Don’t use
loan offset, the loan, at the time of the offset, must be a loan
the 2024 Form 5329 to amend your return for any other year. For
in good standing and the offset must be solely by reason of
information about amending a Form 5329 for a prior year, see
(1) the termination of the qualified employer plan, or (2) the
Prior tax years, earlier.
failure to meet the repayment terms is because the
employee has a severance from employment. If you meet Part I—Additional Tax on Early
the requirements of a qualified plan loan offset, you have
until the due date, including extensions, to file your tax return Distributions
for the tax year in which the offset occurs to roll over the In general, if you receive an early distribution (including an
qualified plan loan offset amount. involuntary cashout) from an IRA, other qualified retirement plan,
• If a retirement account has been wrongfully levied by the or modified endowment contract, the part of the distribution
IRS, the amount returned plus interest on such amount may included in income is generally subject to the 10% additional tax.
be contributed to the account or to an IRA (other than an But see Distributions from a designated Roth account and
endowment contract) to which such a rollover contribution is Distributions from Roth IRAs, later.

2 Instructions for Form 5329 (2024)

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The additional tax on early distributions doesn’t apply to any for a loan, are considered to be distributions and are generally
of the following. subject to the additional tax on early distributions. See Prohibited
• A qualified disaster recovery distribution (certain Transactions under What Acts Result in Penalties or Additional
distributions relating to disasters occurring on or after Taxes? in Pub. 590-B for details.
January 26, 2021) or qualified disaster distributions. See
Distributions from a designated Roth account. If you
Form 8915-F for more details.
received an early distribution from your designated Roth
• A qualified distribution from a retirement plan for the birth or
account, include on line 1 the amount of the distribution that you
adoption of a child of up to $5,000 if made during the 1-year
must include in your income. You will find this amount in box 2a
period beginning on the date your child was born or
of your 2024 Form 1099-R. You may also need to include a
adopted. Attach a statement that provides the name, age,
recapture amount on line 1 if you have ever made an in-plan
and TIN of the child or eligible adoptee. If the child died
Roth rollover (discussed later).
before you obtained a TIN, then write that the child died on
the statement and include a copy of the child’s birth If you never made an in-plan Roth rollover, you need to
certificate, death certificate, or hospital records. TIP include on line 1 of this form only the amount from
See Notice 2020-68, available at IRS.gov/pub/irs-drop/ box 2a of your 2024 Form 1099-R reporting the early
n-20-68.pdf, for more information. distribution.
An eligible adoptee includes any individual (other Recapture amount subject to the additional tax on early
TIP than a child of the taxpayer’s spouse) who has not distributions. If you have ever made an in-plan Roth rollover
reached age 18 or who is an adult and is physically and you received an early distribution for 2024, the recapture
or mentally incapable of self-support. amount to include on line 1 is a portion of the amounts you rolled
over.
• A qualified HSA funding distribution from an IRA (other than
a SEP or SIMPLE IRA). See Qualified HSA funding The recapture amount that you must include on line 1 won’t
distribution under Health Savings Accounts in Pub. 969 for exceed the amount of your early distribution; and, for purposes
details. of determining this recapture amount, you will allocate a rollover
• A distribution from a traditional or SIMPLE IRA that was amount (or portion thereof) to an early distribution only once.
converted to a Roth IRA. For more information about the recapture amount for early
• A rollover from a qualified retirement plan to a Roth IRA. distributions from a designated Roth account, including how to
• An in-plan Roth rollover. figure it, see Tax on Early Distributions under Special Additional
• A distribution of certain excess IRA contributions (see the Taxes in Pub. 575.
instructions for line 15, later, and the instructions for line 23, Distributions from Roth IRAs. If you received an early
later). distribution from your Roth IRAs, include on line 1 the part of the
Any related IRA earnings withdrawn with excess IRA distribution that you must include in your income. You will find
TIP contributions are taxable and must be reported on this amount on line 25c of your 2024 Form 8606. You will also
line 1. Beginning on December 29, 2022, the 10% need to include on line 1 the following amounts.
additional tax on early distributions does not apply to an IRA • A qualified first-time homebuyer distribution from line 20 of
distribution made pursuant to the rules of section 408(d)(4), your 2024 Form 8606. Also include this amount on line 2
which consists of a contribution for that year and any and enter exception number 09.
earnings allocable to the contribution, as long as the • Recapture amounts attributable to any conversions or
distribution is made on or before the due date (including rollovers to your Roth IRAs in 2019 through 2024. See
extensions) of the income tax return. Report this amount on Recapture amount subject to the additional tax on early
line 2 and enter exception number 21. distributions next.
• A distribution of excess deferrals. Excess deferrals include If you didn’t have a qualified first-time homebuyer
distributions of excess contributions from a qualified cash or TIP distribution in 2024, and you didn’t convert or roll over an
deferred arrangement (401(k) plan), excess contributions amount to your Roth IRAs in 2020 through 2024, you
from a tax-sheltered annuity (403(b) plan), excess only need to include the amount from line 25c of your 2024 Form
contributions from a salary reduction SEP IRA, and excess 8606 on line 1 of this form.
contributions from a SIMPLE IRA. Recapture amount subject to the additional tax on early
• A distribution of excess aggregate contributions to meet distributions. If you converted or rolled over an amount to your
nondiscrimination requirements for employee contributions Roth IRAs in 2020 through 2024 and you received an early
and matching employer contributions. distribution for 2024, the recapture amount you must include on
• A distribution from an eligible governmental section 457 line 1 is the amount, if any, of the early distribution allocated to
deferred compensation plan to the extent the distribution the taxable portion of your 2020 through 2024 conversions or
isn’t attributable to an amount transferred from a qualified rollovers.
retirement plan.
Generally, an early distribution is allocated to your Roth IRA
See the instructions for line 2, later, for other distributions that contributions first, then to your conversions and rollovers on a
aren’t subject to the additional tax. first-in, first-out basis. For each conversion or rollover, you must
first allocate the early distribution to the portion that was subject
Line 1 to tax in the year of the conversion or rollover, and then to the
Enter the amount of early distributions includible in income portion that wasn’t subject to tax. The recapture amount is the
(other than qualified disaster distributions, including qualified sum of the early distribution amounts that you allocate to these
disaster recovery distributions) that you received from: taxable portions of your conversions or rollovers.
• A qualified retirement plan including earnings on withdrawn The recapture amount that you must include on line 1 won’t
excess contributions to your IRAs included in income in exceed the amount of your early distribution; and, for purposes
2024; or of determining this recapture amount, you will allocate a
• A modified endowment contract. contribution, conversion, or rollover amount (or portion thereof)
Certain prohibited transactions involving your IRA, such as to an early distribution only once.
borrowing from your IRA or pledging your IRA assets as security
Instructions for Form 5329 (2024) 3

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For more information about the recapture amount for 05 Qualified retirement plan distributions up to the amount you
distributions from a Roth IRA, including how to figure it, see paid for unreimbursed medical expenses during the year
Ordering Rules for Distributions under Are Distributions Taxable? minus 7.5% of your adjusted gross income (AGI) for the
in chapter 2 of Pub. 590-B. Also, see the Example next, which year.
illustrates a situation where a taxpayer must include a recapture 06 Qualified retirement plan distributions made to an alternate
amount on line 1. payee under a qualified domestic relations order (doesn’t
apply to IRAs).
Example. You converted $20,000 from a traditional IRA to a 07 IRA distributions made to certain unemployed individuals
Roth IRA in 2020 and converted $10,000 in 2021. Your 2020 for health insurance premiums.
Form 8606 had $5,000 on line 17 and $15,000 on line 18, and 08 IRA distributions made for qualified higher education
your 2021 Form 8606 had $3,000 on line 17 and $7,000 on expenses.
line 18. You made Roth IRA contributions of $2,000 for 2020 and 09 IRA distributions made for the purchase of a first home, up
2021. You didn’t make any Roth IRA conversions or contributions to $10,000.
for 2022 through 2024, or take any Roth IRA distributions before 10 Qualified retirement plan distributions made due to an IRS
2024. levy.
On July 10, 2024, at age 53, you took a $33,000 distribution 11 Qualified distributions to reservists while serving on active
from your Roth IRA. Your 2024 Form 8606 shows $33,000 on duty for at least 180 days.
line 19; $29,000 on line 23 ($33,000 minus $4,000 for your 12 Distributions incorrectly indicated as early distributions by
contributions on line 22); and $0 on line 25a ($29,000 minus code 1, J, or S in box 7 of Form 1099-R. Include on line 2
your basis in conversions of $30,000). the amount you received when you were age 59 / or older.1 2
First, $4,000 of the $33,000 is allocated to your 2024 Form 13 Distributions from a section 457 plan, which aren’t from a
rollover from a qualified retirement plan.
8606, line 22; then $15,000 to your 2020 Form 8606, line 18;
$5,000 to your 2020 Form 8606, line 17; and $7,000 to your 14 Distributions from a plan maintained by an employer if:
2021 Form 8606, line 18. The remaining $2,000 is allocated to 1. You separated from service by March 1, 1986;
the $3,000 on your 2021 Form 8606, line 17. On line 1, enter 2. As of March 1, 1986, your entire interest was in pay
$22,000 ($15,000 allocated to your 2020 Form 8606, line 18, status under a written election that provides a specific
plus the $7,000 that was allocated to your 2021 Form 8606, schedule for the distribution of your entire interest; and
line 18). 3. The distribution is actually being made under the
written election.
If you take a Roth IRA distribution in 2024, the first $1,000 will
be allocated to the $1,000 remaining from your 2021 Form 8606, 15 Distributions that are dividends paid with respect to stock
described in section 404(k).
line 17, and won’t be subject to the additional tax on early
distributions. 16 Distributions from annuity contracts to the extent that the
distributions are allocable to the investment in the contract
Additional information. For more details, see Are Distributions before August 14, 1982. For additional exceptions that
Taxable? in chapters 1 and 2 of Pub. 590-B. apply to annuities, see Tax on Early Distributions under
Special Additional Taxes in Pub. 575.
Line 2 17 Distributions that are phased retirement annuity payments
made to federal employees. See Pub. 721 for more
The additional tax on early distributions doesn’t apply to the information on the phased retirement program.
distributions described next. Enter on line 2 the amount that you 18 Permissible withdrawals under section 414(w) from eligible
can exclude. In the space provided, enter the applicable automatic contribution arrangements.
exception number (01–23). If more than one exception applies, 19 Qualified birth or adoption distributions. Attach a statement
enter 99. that provides the name, age, and TIN of the child or eligible
adoptee.
20 Distributions due to terminal illness. Distributions that are
Exceptions to the Additional Tax on Early made on or after the date on which your physician has
Distributions 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.
No. Exception See Notice 2024-02, available at IRS.gov/pub/irs-drop/
01 Qualified retirement plan distributions (doesn’t apply to n-24-02.pdf, for more information.
IRAs) you received after separation from service when the 21 Corrective distributions of the income on excess
separation from service occurs in or after the year you contributions distributed before the due date of the tax
reach age 55 (age 50 for qualified public safety employees return (including extensions).
and private sector firefighters) or 25 years of service under 22 Qualified distributions to victims of domestic abuse. A
the plan, whichever is earlier. distribution made from an applicable eligible retirement
plan and made to an individual during the 1-year period
02 Distributions made as part of a series of substantially equal beginning on any date on which the individual is a victim of
periodic payments (made at least annually) for your life (or domestic abuse by a spouse or a domestic partner. See
life expectancy) or the joint lives (or joint life expectancies) Notice 2024-55, available at IRS.gov/irb/
of you and your designated beneficiary (if from an 2024-28_IRB#NOT-2024-55, for more information.
employer plan, payments must begin after separation from 23 Distributions for eligible emergency expense distributions.
service). Distributions received as periodic payments on or A distribution from an applicable eligible retirement plan for
after December 29, 2022, will not fail to be treated as the purposes of meeting the unforeseeable or immediate
substantially equal merely because they are received as an financial needs relating to necessary personal or family
annuity. And, these distributions received as periodic emergency expenses. See Notice 2024-55, available at
payments will be deemed to be substantially equal if they IRS.gov/irb/2024-28_IRB#NOT-2024-55, for more
are payable over a period that satisfies the section 401(a) information.
(9) requirements relating to annuity payments. See Pub.
590-B for more information. 99 Enter this exception number if more than one exception
applies.
03 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 Line 4
or mental condition. A medical determination that your If any amount on line 3 was a distribution from a SIMPLE IRA
condition can be expected to result in death or to be of
long, continued, and indefinite duration must be made. received within 2 years from the date you first participated in the
04 Distributions due to death (doesn’t apply to modified SIMPLE IRA plan, you must multiply that amount by 25% instead
endowment contracts).

4 Instructions for Form 5329 (2024)

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of 10%. These distributions are included in boxes 1 and 2a of            • The excess, if any, of Form 5329, line 9, over the sum of 
Form 1099-R and are designated with code S in box 7.                       Form 5329, lines 11 and 12 (which you will complete next).

Part II—Additional Tax on Certain                                        Line 11
Distributions From Education                                             Enter on line 11 any withdrawals from your traditional IRAs that 
                                                                         are included in your income. Don’t include any withdrawn 
Accounts and ABLE Accounts                                               contributions reported on line 12.

Line 5                                                                   Line 12
Distributions from an ABLE account aren’t included in income if          Enter on line 12 any amounts included on line 9 that are excess 
made on or after the death of the designated beneficiary:                contributions to your traditional IRAs for 1976 through 2022 that 
• To the estate of the designated beneficiary;                           you had returned to you in 2024 and any 2023 excess 
• To an heir or legatee of the designated beneficiary; or                contributions that you had returned to you in 2024 after the due 
• To pay outstanding obligations due for qualified disability            date (including extensions) of your 2023 income tax return if:
  expenses of the designated beneficiary, including a claim              • You didn’t claim a deduction for the excess contributions,
  filed by a state under a state Medicaid plan.                          • No traditional IRA deduction was allowable (without regard 
                                                                           to the modified AGI limitation) for the excess contributions, 
Line 6                                                                     and
The additional tax doesn’t apply to the distributions that are           • The total contributions to your traditional IRAs for the tax 
includible in income described next. Enter on line 6 the amount            year for which the excess contributions were made weren’t 
from line 5 that you can exclude.                                          more than the amounts shown in the following table.
• Distributions made due to the death or disability of the               Year(s)           Contribution     Contribution limit if 
  beneficiary.                                                                              limit           age 50 or older at 
• Distributions from an education account made on account of                                                the end of the year
  a tax-free scholarship, allowance, or payment described in 
  section 25A(g)(2).                                                     2023              $6,500           $7,500
• Distributions from an education account made because of 
  attendance by the beneficiary at a U.S. military academy.              2019 through 2022 $6,000           $7,000
  This exception applies only to the extent that the distribution        2013 through 2018 $5,500           $6,500
  doesn’t exceed the costs of advanced education (as defined             2008 through 2012 $5,000           $6,000
  in title 10 of the U.S. Code) at the academy.
• Distributions from an education account included in income             2006 or 2007      $4,000           $5,000
  because you used the qualified education expenses to                   2005              $4,000           $4,500
  figure the American opportunity and lifetime learning credits.
                                                                         2002 through 2004 $3,000           $3,500
Part III—Additional Tax on Excess                                        1997 through 2001 $2,000                         —
Contributions to Traditional IRAs                                        before 1997       $2,250                         —
If you contributed more for 2024 than is allowable or you had an 
amount on line 17 of your 2023 Form 5329, you may owe this 
tax. But you may be able to avoid the tax on any 2024 excess                  If the excess contribution to your traditional IRA for the 
contributions (see the instructions for line 15, later).                   year included a rollover and the excess occurred because 
                                                                           the information the plan was required to give you was 
Line 9                                                                     incorrect, increase the contribution limit amount for the year 
Enter the amount from line 16 of your 2023 Form 5329 only if the           shown in the table above by the amount of the excess that is 
amount on line 17 of your 2023 Form 5329 is more than zero.                due to the incorrect information.
                                                                              If the total contributions for the year included employer 
Line 10                                                                    contributions to a SEP, increase the contribution limit 
Enter the difference, if any, of your contribution limit for traditional   amount for the year shown in the table above by the smaller 
IRAs less your contributions to traditional IRAs and Roth IRAs for         of the amount of the employer contributions or:
2024.                                                                    2023                               $66,000
If you aren’t married filing jointly, your contribution limit for        2022                               $61,000
traditional IRAs is the smaller of your taxable compensation or          2021                               $58,000
$7,000 ($8,000 if age 50 or older at the end of 2024). If you are 
married filing jointly, your contribution limit is generally $7,000      2020                               $57,000
($8,000 if age 50 or older at the end of 2024) and your spouse's         2019                               $56,000
contribution limit is $7,000 ($8,000 if age 50 or older at the end 
of 2024). But if the combined taxable compensation for you and           2018                               $55,000
your spouse is less than $14,000 ($15,000 if one spouse is 50 or         2017                               $54,000
older at the end of 2024; $16,000 if both spouses are 50 or older 
at the end of 2024), see How Much Can Be Contributed? for                2015 or 2016                       $53,000
special rules and What Is Compensation? in Pub. 590-A for                2014                               $52,000
additional information.                                                  2013                               $51,000
Also include on line 11a or 11b of the IRA Deduction                     2012                               $50,000
Worksheet—Schedule 1, Line 20, in the Instructions for Form 
1040 or the Instructions for Form 1040-NR, the smaller of:
• Form 5329, line 10; or

Instructions for Form 5329 (2024)                                                                                                         5

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 2009, 2010, or 2011                          $49,000                 Line 19
                                                                      If you contributed less to your Roth IRAs for 2024 than your 
 2008                                         $46,000                 contribution limit for Roth IRAs, enter the difference. Your 
 2007                                         $45,000                 contribution limit for Roth IRAs is generally your contribution limit 
 2006                                         $44,000                 for traditional IRAs (see the instructions for line 10, earlier) 
                                                                      reduced by the amount you contributed to traditional IRAs. But 
 2005                                         $42,000                 your contribution limit for Roth IRAs may be further reduced or 
 2004                                         $41,000                 eliminated if your modified AGI for Roth IRA purposes is over:
                                                                      • $230,000 if married filing jointly or qualifying surviving 
 2002 or 2003                                 $40,000                   spouse;
 2001                                         $35,000                 • $146,000 if single, head of household, or married filing 
                                                                        separately and you didn’t live with your spouse at any time in 
 before 2001                                  $30,000                   2024; or
                                                                      • $0 if married filing separately and you lived with your spouse 
                                                                        at any time in 2024.
Line 15                                                               See Can You Contribute to a Roth IRA? in Pub. 590-A for 
                                                                      details.
Enter the excess of your contributions to traditional IRAs for 2024 
(unless withdrawn—discussed next) over your contribution limit        Line 20
for traditional IRAs. Also, if you hadn't reached age 59 /  at the 1 2
time of the withdrawal, include the earnings as an early              Generally, enter the amount from Form 8606, line 19, plus any 
distribution on line 1 on Form 5329 for the year in which you         qualified distributions. But if you withdrew the entire balance of 
report the earnings. See the instructions for line 10, earlier, to    all of your Roth IRAs, don’t enter less than the amount on Form 
figure your contribution limit for traditional IRAs. Don’t include    5329, line 18 (see the Example next).
rollovers in figuring your excess contributions. See Difficulty of    Example.  You contributed $1,000 to a Roth IRA in 2022, 
care payments in Pub. 590-A for an exception for nondeductible        your only contribution to Roth IRAs. In 2024, you discovered you 
contributions made based on a type of foster care payment             weren’t eligible to contribute to a Roth IRA in 2022. On 
received (such nondeductible contributions are not treated as         September 7, 2024, you withdrew $800, the entire balance in the 
excess contributions pursuant to section 4973(b)).                    Roth IRA. You must file Form 5329 for 2022 and 2023 to pay the 
                                                                      additional taxes for those years. When you complete Form 5329 
  You can withdraw some or all of your excess contributions for       for 2024, you enter $1,000 (not $800) on line 20 because you 
2024 and they will be treated as not having been contributed if:      withdrew the entire balance.
 • You make the withdrawal by the due date, including 
   extensions, of your 2024 tax return;                               Line 23
 • You don’t claim a traditional IRA deduction for the withdrawn 
   contributions; and                                                 Enter the excess of your contributions to Roth IRAs for 2024 
 • You withdraw any earnings on the withdrawn contributions           (unless withdrawn—discussed below) over your contribution limit 
   and include the earnings in gross income (see the                  for Roth IRAs. See the instructions for line 19, earlier, to figure 
   Instructions for Form 8606 for details). Also, if you hadn't       your contribution limit for Roth IRAs.
   reached age 59 /  at the time of the withdrawal, include the 1 2   Don’t include rollovers in figuring your excess contributions.
   earnings as an early distribution on line 1 of Form 5329 for 
   the year in which you report the earnings. Report this             You can withdraw some or all of your excess contributions for 
   amount on line 2 and enter exception number 21.                    2024 and they will be treated as not having been contributed if:
                                                                      • You make the withdrawal by the due date, including 
  If you timely filed your return without withdrawing the excess        extensions, of your 2024 tax return; and
contributions, you can still make the withdrawal no later than 6      • You withdraw any earnings on the withdrawn contributions 
months after the due date of your tax return, excluding                 and include the earnings in gross income (see the 
extensions. If you do, file an amended return with “Filed pursuant      Instructions for Form 8606 for details). Also, if you hadn't 
to section 301.9100-2” entered at the top. Report any related           reached age 59 /  at the time of the withdrawal, include the 1 2
earnings for 2024 on the amended return and include an                  earnings as an early distribution on line 1 of Form 5329 for 
explanation of the withdrawal. Make any other necessary                 the year in which you report the earnings. Report this 
changes on the amended return (for example, if you reported the         amount on line 2 and enter exception number 21.
contributions as excess contributions on your original return, 
include an amended Form 5329 reflecting that the withdrawn            If you timely filed your return without withdrawing the excess 
contributions are no longer treated as having been contributed).      contributions, you can still make the withdrawal no later than 6 
                                                                      months after the due date of your tax return, excluding 
Part IV—Additional Tax on Excess                                      extensions. If you do, file an amended return with “Filed pursuant 
                                                                      to section 301.9100-2” entered at the top. Report any related 
Contributions to Roth IRAs                                            earnings for 2024 on the amended return and include an 
If you contributed more to your Roth IRA for 2024 than is             explanation of the withdrawal. Make any other necessary 
allowable or you had an amount on line 25 of your 2023 Form           changes on the amended return (for example, if you reported the 
5329, you may owe this tax. But you may be able to avoid the tax      contributions as excess contributions on your original return, 
on any 2024 excess contributions (see the instructions for            include an amended Form 5329 reflecting that the withdrawn 
line 23, later).                                                      contributions are no longer treated as having been contributed).
 
                                                                      Part V—Additional Tax on Excess 
Line 18                                                               Contributions to Coverdell ESAs
Enter the amount from line 24 of your 2023 Form 5329 only if the      If the contributions to your Coverdell ESAs for 2024 were more 
amount on line 25 of your 2023 Form 5329 is more than zero.           than is allowable or you had an amount on line 33 of your 2023 
                                                                      Form 5329, you may owe this tax. But you may be able to avoid 

6                                                                                                 Instructions for Form 5329 (2024)

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the tax on any 2024 excess contributions (see the instructions for • The excess, if any, of Form 5329, line 34, over Form 5329, 
line 31, later).                                                     line 36.

Line 26                                                            Line 39
Enter the amount from line 32 of your 2023 Form 5329 only if the   Enter the excess of your contributions to your Archer MSA for 
amount on line 33 of your 2023 Form 5329 is more than zero.        2024 from Form 8853, line 2 (unless withdrawn—discussed 
                                                                   next), over your contribution limit (the smaller of line 3 or line 4 of 
Line 27                                                            Form 8853). Also include on line 39 any excess contributions 
Enter the excess, if any, of the maximum amount that can be        your employer made. See the Instructions for Form 8853 for 
contributed to your Coverdell ESAs for 2024 over the amount        details.
actually contributed for 2024. Your contribution limit is the 
smaller of $2,000 or the sum of the maximum amounts the            You can withdraw some or all of the excess contributions for 
contributor(s) to your Coverdell ESAs are allowed to contribute.   2024 and they will be treated as not having been contributed if:
The maximum contribution may be limited based on the               • You make the withdrawal by the due date, including 
contributor's modified AGI. See Contributions in chapter 7 of        extensions, of your 2024 tax return; and
Pub. 970 for details.                                              • You withdraw any income earned on the withdrawn 
                                                                     contributions and include the earnings in gross income for 
Line 28                                                              the year in which you receive the withdrawn contributions 
                                                                     and earnings.
Enter your total distributions from Coverdell ESAs in 2024. Don’t 
include rollovers or withdrawn excess contributions.               Include the withdrawn contributions and related earnings on 
                                                                   Form 8853, lines 6a and 6b.
Line 31
Enter the excess of the contributions to your Coverdell ESAs for   If you timely filed your return without withdrawing the excess 
2024 (unless withdrawn—discussed below) over your                  contributions, you can still make the withdrawal no later than 6 
contribution limit for Coverdell ESAs. See the instructions for    months after the due date of your tax return, excluding 
line 27, earlier, to figure your contribution limit for Coverdell  extensions. If you do, file an amended return with “Filed pursuant 
ESAs.                                                              to section 301.9100-2” entered at the top. Report any related 
                                                                   earnings for 2024 on the amended return and include an 
Don’t include rollovers in figuring your excess contributions.     explanation of the withdrawal. Make any other necessary 
                                                                   changes on the amended return (for example, if you reported the 
You can withdraw some or all of the excess contributions for 
                                                                   contributions as excess contributions on your original return, 
2024 and they will be treated as not having been contributed if:
                                                                   include an amended Form 5329 reflecting that the withdrawn 
• You make the withdrawal before June 1, 2025; and
                                                                   contributions are no longer treated as having been contributed).
• You also withdraw any income earned on the withdrawn 
  contributions and include the earnings in gross income for       Part VII—Additional Tax on Excess 
  the year in which the contribution was made.
                                                                   Contributions to Health Savings 
If you filed your return without withdrawing the excess 
contributions, you can still make the withdrawal, but it must be   Accounts (HSAs)
made before June 1, 2025. If you do, file an amended return.       If you, someone on your behalf, or your employer contributed 
Report any related earnings for 2024 on the amended return and     more to your HSAs for 2024 than is allowable or you had an 
include an explanation of the withdrawal. Make any other           amount on line 49 of your 2023 Form 5329, you may owe this 
necessary changes on the amended return (for example, if you       tax. But you may be able to avoid the tax on any 2024 excess 
reported the contributions as excess contributions on your         contributions (see the instructions for line 47, later).
original return, include an amended Form 5329 reflecting that the 
withdrawn contributions are no longer treated as having been       Line 42
contributed).
                                                                   Enter the amount from line 48 of your 2023 Form 5329 only if the 
Part VI—Additional Tax on Excess                                   amount on line 49 of your 2023 Form 5329 is more than zero.

Contributions to Archer MSAs                                       Line 43
If you or your employer contributed more to your Archer MSA for    If contributions to your HSAs for 2024 (line 2 of Form 8889, 
2024 than is allowable or you had an amount on line 41 of your     Health Savings Accounts (HSAs)) were less than your 
2023 Form 5329, you may owe this tax. But you may be able to       contribution limit for HSAs, enter the difference on line 43. Your 
avoid the tax on any 2024 excess contributions (see the            contribution limit for HSAs is the amount on line 12 of Form 
instructions for line 39, later).                                  8889.
Line 34                                                            Also include on your 2024 Form 8889, line 13, the smaller of:
Enter the amount from line 40 of your 2023 Form 5329 only if the   • Form 5329, line 43; or
amount on line 41 of your 2023 Form 5329 is more than zero.        • The excess, if any, of Form 5329, line 42, over Form 5329, 
                                                                     line 44.
Line 35
                                                                   Line 47
If contributions to your Archer MSAs for 2024 were less than 
your contribution limit for Archer MSAs, enter the difference on   Enter the excess of your contributions (made by you or on your 
line 35. Your contribution limit for Archer MSAs is the smaller of behalf) to your HSAs for 2024 from Form 8889, line 2 (unless 
line 3 or line 4 of Form 8853, Archer MSAs and Long-Term Care      withdrawn—discussed next), over your contribution limit (Form 
Insurance Contracts.                                               8889, line 12). Also include on line 47 any excess contributions 
                                                                   your employer made. See the Instructions for Form 8889 for 
Also include on your 2024 Form 8853, line 5, the smaller of:       details.
• Form 5329, line 35; or
Instructions for Form 5329 (2024)                                                                                                     7

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You can withdraw some or all of the excess contributions for tax is 25% of the excess accumulation, which is the difference
2024 and they will be treated as not having been contributed if: between the amount that was required to be distributed and the
• You make the withdrawal by the due date, including amount that was actually distributed. The tax is due for the tax
extensions, of your 2024 return; and year that includes the last day by which the minimum required
• You withdraw any income earned on the withdrawn distribution must be taken.The additional tax is reduced to 10%
contributions and include the earnings in gross income for of the excess accumulation if you meet certain requirements.
the year in which you receive the withdrawn contributions See Reduced tax rate for more information.
and earnings.
Include the withdrawn contributions and related earnings on Lines 52a and 52b
Form 8889, lines 14a and 14b. IRA (other than a Roth IRA). Generally, you must start
If you timely filed your return without withdrawing the excess receiving distributions from your IRA by April 1 of the year
contributions, you can still make the withdrawal no later than 6 following the year in which you reach age 73. At that time, you
months after the due date of your tax return, excluding can receive your entire interest in the IRA or begin receiving
extensions. If you do, file an amended return with “Filed pursuant periodic distributions. If you choose to receive periodic
to section 301.9100-2” entered at the top. Report any related distributions, you must receive a minimum required distribution
earnings for 2024 on the amended return and include an each year. You can figure the minimum required distribution by
explanation of the withdrawal. Make any other necessary dividing the account balance of your IRAs (other than Roth IRAs)
changes on the amended return (for example, if you reported the on December 31 of the year preceding the distribution by the
contributions as excess contributions on your original return, applicable life expectancy. For applicable life expectancies, see
include an amended Form 5329 reflecting that the withdrawn Figuring the Owner's Required Minimum Distribution under
contributions are no longer treated as having been contributed). When Must You Withdraw Assets? in Pub. 590-B.
If the trustee, custodian, or issuer of your IRA informs you of
Part VIII—Additional Tax on Excess the minimum required distribution, you can use that amount.
For more details on the minimum distribution rules (including
Contributions to ABLE Accounts examples), see When Must You Withdraw Assets? in Pub.
If the contributions to your ABLE account for 2024 were more 590-B.
than is allowable, you may owe tax on the net income resulting
from the excess contribution. Roth IRA. There are no minimum required distributions during
the lifetime of the owner of a Roth IRA. Following the death of the
Line 50 Roth IRA owner, required distribution rules apply to the
Enter the excess, if any, of the contributions to your ABLE beneficiary. See Must You Withdraw or Use Assets? in Pub.
account for 2024 over the contribution limit. Total contributions 590-B for details.
(including contributions from a section 529 account) made to Qualified retirement plans (other than IRAs and designated
your ABLE account for 2024 may not exceed $18,000 plus, in the Roth accounts) and eligible section 457 deferred compen
case of an employed designated beneficiary, the applicable sation plans. In general, you must begin receiving distributions
amount under section 529A(b)(2)(B)(ii). from your plan no later than April 1 following the later of (a) the
Don’t include ABLE rollovers or program-to-program transfers year in which you reach age 73, or (b) the year in which you
in figuring your excess contributions. retire.
Exception. If you owned more than 5% of the employer
You won’t incur a tax on a contribution to your ABLE account maintaining the plan, you must begin receiving distributions no
that is in excess of the contribution limit if the qualified ABLE later than April 1 of the year following the year in which you reach
program returns the contribution, including all net income age 73, regardless of when you retire.
attributable to the contribution, to the person who made the Your plan administrator should figure the amount that must be
contribution (the “contributor”), and the contributor receives the distributed each year.
contribution on or before the due date (including extensions) for
filing your federal income tax return. Any net income distributed Designated Roth account. There are no minimum required
from the excess contribution to the ABLE account is includible in distributions from a designated Roth account during the
the gross income of the contributor in the tax year in which the employee's lifetime. Following the death of the employee,
excess contribution was made. required distribution rules apply to the beneficiary.

If the contributor receives the contribution after you have filed Lines 53a and 53b
your original tax return but before the due date (including
extensions) for filing your return, you may file an amended return Enter the amount distributed towards the required minimum
reflecting the return of the contribution to the contributor with distribution from all plans. Do not include on line(s) 53a and/or
“Filed pursuant to section 301.9100-2” entered at the top. Make 53b, any distribution(s) received after the deadline for taking the
any necessary changes on the amended return. For example, if minimum required distribution or during the correction window.
you reported the contribution as excess contributions on your Distributions that satisfy minimum distribution rules.
original return, include an amended Form 5329 reflecting that the Generally, all distributions from an account count towards the
withdrawn contributions are no longer treated as having been minimum distribution requirements. If you received more than the
contributed. minimum required distribution from any account, do not include
the excess on line(s) 53a and/or 53b unless those accounts may
Part IX—Additional Tax on Excess be aggregated under the following rules.
Accumulation in Qualified Retirement A qualified charitable distribution will count towards your
TIP minimum required distribution. See Qualified charitable
Plans (Including IRAs) distributions under Are Distributions Taxable? in
You owe this tax if you don’t receive the minimum required chapter 1 of Pub. 590-B for more information.
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

8 Instructions for Form 5329 (2024)

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IRA (other than a Roth IRA). The minimum required amount (excess accumulations) is 25% for tax years beginning
distribution must be figured separately for each IRA you own, but after December 29, 2022.
you can generally withdraw the total amount from one or more of You may be eligible for a reduced tax rate of 10% if, during the
your IRAs that are not Roth IRAs. If you are the beneficiary of an correction window, you:
inherited IRA, then only distributions from IRAs inherited from
the same decedent can be combined to satisfy the minimum 1. Receive a distribution of the amount that resulted in the
required distribution for all inherited IRAs from that decedent. For excess accumulation from the plan for which the tax was
more information, see Treas. Reg. 1.408-8. imposed; and
Roth IRA. Only withdrawals from Roth IRAs inherited from the 2. Submit a return reflecting the additional tax.
same decedent can be combined to satisfy the minimum Correction window. The correction window ends on the
required distribution for all inherited Roth IRAs from that earliest of the following dates.
decedent. For more information, see Treas. Reg. 1.408-8. • The date of mailing the deficiency notice with respect to the
Qualified retirement plans (other than IRAs). Qualified plans imposition of this tax;
cannot aggregate distributions for purposes of meeting the • The date the tax is assessed; or
minimum required distribution requirement. You must figure the • The last day of the second taxable year that begins after the
amount of the minimum required distribution separately for each end of the taxable year in which the additional tax is
plan and withdraw that amount from the specific plan. See Treas. imposed.
Reg. 1.401(a)(9)-8 for more information. Waiver of tax for reasonable cause. The IRS can waive part
If you have more than one 403(b) tax-sheltered annuity or all of this tax if you can show that any shortfall in the amount of
TIP account, you can total the RMDs and then take them distributions was due to reasonable error and you are taking
from any one (or more) of the tax-sheltered annuities. 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.
Lines 54a and 54b
1. Complete lines 52a and 52b, and 53a and 53b, as
This is your total excess accumulation. instructed.
To figure the additional tax on the excess accumulation, you 2. Enter “RC” and the amount of the shortfall you want waived
must first determine which tax rate applies. in parentheses on the dotted line next to line(s) 54a and/or
54b, as applicable. Subtract this amount from the total
If you had an excess accumulation in only one qualified shortfall you figured without regard to the waiver, and enter
retirement plan, including an IRA, or eligible section 457 deferred the result on line(s) 54a and/or 54b, as applicable.
compensation plan, then you will apply:
• 25%, if you did not satisfy the requirements under Reduced 3. Complete line 55 as instructed. You must pay any tax due
tax rate; or that is reported on line 55.
• 10%, if you satisfied the requirements under Reduced tax The IRS will review the information you provide and decide
rate. whether to grant your request for a waiver. If your request is not
granted, the IRS will notify you regarding any additional tax you
For trusts and estates, include this amount on Form 1041, may owe on the shortfall.
Schedule G, line 8. Enter “From Form 5329” and the amount of
the tax to the left of the line 8 entry space.
Reduced tax rate. Generally, the additional tax rate for
distributions that are less than the minimum required distribution

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carry out their tax laws. We may also disclose this information to
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the information requested on this form is sections 6001, 6011,
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