2023

Instructions for Form 5329

Additional Taxes on Qualified Plans (Including IRAs)

and Other Tax-Favored Accounts

Department of the Treasury

Internal Revenue Service

Section references are to the Internal Revenue Code unless 

otherwise noted.

General Instructions

Future Developments

For the latest information about developments related to Form 

5329 and its instructions, such as legislation enacted after they 

were published, go to IRS.gov/Form5329.

Reminders

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.

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.

Maximum age for traditional IRA contributions. The age 

restriction for contributions to a traditional IRA has been 

eliminated.

Purpose of Form

Use Form 5329 to report additional taxes on:

• IRAs,

• Other qualified retirement plans,

• Modified endowment contracts,

• Coverdell ESAs,

• QTPs,

• Archer MSAs,

• HSAs, or

• ABLE accounts.

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).

• 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.

• You received a distribution subject to the tax on early 

distributions from a qualified retirement plan (other than a 

Roth IRA) and you meet an exception to the tax on early 

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.

• You received taxable distributions from Coverdell ESAs, 

QTPs, or ABLE accounts.

• 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.

• 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.

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 

instructions for Form 1040, or 1040-NR, lines 4a and 4b or lines 

5a and 5b, for how to report the rollover.

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.

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.

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.

Definitions

Qualified retirement plan. A qualified retirement plan includes:

• A qualified pension, profit-sharing, or stock bonus plan 

(including a 401(k) plan);

• A tax-sheltered annuity contract (403(b) plan);

• A qualified annuity plan; and

• An IRA.

Note. Modified endowment contracts aren’t qualified retirement 

plans.

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Jan 23, 2024 Cat. No. 13330R
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#REVPROC-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.

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.

• 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.

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.

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 

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.

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).

• Pub. 590-B, Distributions from Individual Retirement 

Arrangements (IRAs).

• 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.

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. 

But see Distributions from a designated Roth account and 

Distributions from Roth IRAs, later.

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.

• 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.

See Notice 2020-68, available at IRS.gov/pub/irs-drop/

n-20-68.pdf, for more information.

2 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 

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.

• 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.

• A distribution of certain excess IRA contributions (see the 

instructions for line 15, later, and the instructions for line 23, 

later).

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% 

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 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.

• A distribution of excess aggregate contributions to meet 

nondiscrimination requirements for employee contributions 

and matching employer contributions.

• 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.

See the instructions for line 2, later, for other distributions that 

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

• A modified endowment contract.

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 

distribution.

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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.

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.

• 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.

• Recapture amounts attributable to any conversions or 

rollovers to your Roth IRAs in 2019 through 2023. See 

Recapture amount subject to the additional tax on early 

distributions, next.

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 

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.

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? 

in chapter 2 of Pub. 590-B. Also, see the Example next, which 

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.

On July 10, 2023, at age 53, you took a $33,000 distribution 

from your Roth IRA. Your 2023 Form 8606 shows $33,000 on 

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Instructions for Form 5329 (2023) 3
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).

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.

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.

Exceptions to the Additional Tax on Early 

Distributions

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.

02 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.

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 

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.

04 Distributions due to death (doesn’t apply to modified 

endowment contracts).

05 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.

06 Qualified retirement plan distributions made to an alternate 

payee under a qualified domestic relations order (doesn’t 

apply to IRAs).

07 IRA distributions made to certain unemployed individuals 

for health insurance premiums.

08 IRA distributions made for qualified higher education 

expenses.

09 IRA distributions made for the purchase of a first home, up 

to $10,000.

10 Qualified retirement plan distributions made due to an IRS 

levy.

11 Qualified distributions to reservists while serving on active 

duty for at least 180 days. 

12 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.

13 Distributions from a section 457 plan, which aren’t from a 

rollover from a qualified retirement plan.

14 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

3. The distribution is actually being made under the 

written election.

15 Distributions that are dividends paid with respect to stock 

described in section 404(k).

16 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.

17 Distributions that are phased retirement annuity payments 

made to federal employees. See Pub. 721 for more 

information on the phased retirement program.

18 Permissible withdrawals under section 414(w).

19 Qualified birth or adoption distributions. Attach a statement 

that provides the name, age, and TIN of the child or eligible 

adoptee.

20 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.

21 Corrective distributions of the income on excess 

contributions distributed before the due date of the tax 

return (including extensions).

99 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.

Part II—Additional Tax on Certain 

Distributions From Education 

Accounts and ABLE Accounts

Line 5

Distributions from an ABLE account aren’t included in income if 

made on or after the death of the designated beneficiary:

• To the estate of the designated beneficiary;

• 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.

4 Instructions for Form 5329 (2023)
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.

• Distributions made due to the death or disability of the 

beneficiary.

• Distributions from an education account made on account of 

a tax-free scholarship, allowance, or payment described in 

section 25A(g)(2).

• 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.

• Distributions from an education account included in income 

because you used the qualified education expenses to 

figure the American opportunity and lifetime learning credits.

Part III—Additional Tax on Excess 

Contributions to Traditional IRAs

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 

contributions (see the instructions for line 15, later).

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

Enter the difference, if any, of your contribution limit for traditional 

IRAs less your contributions to traditional IRAs and Roth IRAs for 

2023.

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.

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:

• Form 5329, line 10; or

• The excess, if any, of Form 5329, line 9, over the sum of 

Form 5329, lines 11 and 12 (which you will complete next).

Line 11

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.

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 

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

• 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.

Year(s) Contribution

 limit

Contribution limit if 

age 50 or older at 

the end of the year

2019 through 2022 $6,000 $7,000

2013 through 2018 $5,500 $6,500

2008 through 2012 $5,000 $6,000

2006 or 2007 $4,000 $5,000

2005 $4,000 $4,500

2002 through 2004 $3,000 $3,500

1997 through 2001 $2,000 —

before 1997 $2,250 —

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:

2022 $61,000

2021 $58,000

2020 $57,000

2019 $56,000

2018 $55,000

2017 $54,000

2015 or 2016 $53,000

2014 $52,000

2013 $51,000

2012 $50,000

2009, 2010, or 2011 $49,000

2008 $46,000

2007 $45,000

2006 $44,000

2005 $42,000

2004 $41,000

2002 or 2003 $40,000

2001 $35,000

before 2001 $30,000

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 

distribution on line 1 on Form 5329 for the year in which you 

report the earnings. See the instructions for line 10, earlier, to 

figure your contribution limit for traditional IRAs. Don’t include 

Instructions for Form 5329 (2023) 5
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.

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;

• 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.

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).

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.

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 

for traditional IRAs (see the instructions for line 10, earlier) 

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:

• $218,000 if married filing jointly or qualifying surviving 

spouse;

• $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 20

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 

5329, line 18 (see the Example, next).

Example. You contributed $1,000 to a Roth IRA in 2021, 

your only contribution to Roth IRAs. In 2023, you discovered you 

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.

Line 23

Enter the excess of your contributions to Roth IRAs for 2023 

(unless withdrawn—discussed below) over your contribution limit 

for Roth IRAs. See the instructions for line 19, earlier, to figure 

your contribution limit for Roth IRAs.

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

• 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.

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 V—Additional Tax on Excess 

Contributions to Coverdell ESAs

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 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

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.

Line 28

Enter your total distributions from Coverdell ESAs in 2023. Don’t 

include rollovers or withdrawn excess contributions.

Line 31

Enter the excess of the contributions to your Coverdell ESAs for 

2023 (unless withdrawn—discussed below) over your 

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.

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.

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).

Part VI—Additional Tax on Excess 

Contributions to Archer MSAs

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 

instructions for line 39, later).

Line 34

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 35

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:

• Form 5329, line 35; or

• The excess, if any, of Form 5329, line 34, over Form 5329, 

line 36.

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.

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 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 

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 VII—Additional Tax on Excess 

Contributions to Health Savings 

Accounts (HSAs)

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 

contributions (see the instructions for line 47, later).

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.

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.

Also include on your 2023 Form 8889, line 13, the smaller of:

• Form 5329, line 43; or

• The excess, if any, of Form 5329, line 42, over Form 5329, 

line 44.

Line 47

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.

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 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.

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 

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).

Instructions for Form 5329 (2023) 7
Part VIII—Additional Tax on Excess 

Contributions to ABLE Accounts

If the contributions to your ABLE account for 2023 were more 

than is allowable, you may owe tax on the net income resulting 

from the excess contribution.

Line 50

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).

Don’t include ABLE rollovers or program-to-program transfers 

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.

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.

Part IX—Additional Tax on Excess 

Accumulation in Qualified Retirement 

Plans (Including IRAs)

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. 

See Line 55 for more information.

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 

Owner's Required Minimum Distribution under When Must You 

Withdraw Assets? in Pub. 590-B.

If the trustee, custodian, or issuer of your IRA informs you of 

the minimum required distribution, you can use that amount.

For more details on the minimum distribution rules (including 

examples), see When Must You Withdraw Assets? in Pub. 

590-B.

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.

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.

Your plan administrator should figure the amount that must be 

distributed each year.

Line 53

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 

minimum required distribution or during the correction window.

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.

A qualified charitable distribution will count towards your 

minimum required distribution. See Qualified charitable 

distributions under Are Distributions Taxable? in 

chapter 1 of Pub. 590-B for more information.

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.

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 TIP

8 Instructions for Form 5329 (2023)
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.

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.

3. Complete line 55 as instructed. You must pay any tax due 

that is reported on line 55.

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.

Line 55

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:

• 25%, if you did not satisfy the requirements under Reduced 

tax rate; or

• 10%, if you satisfied the requirements under Reduced tax 

rate.

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.

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 

compensation plan, then use the Line 55 Worksheet to figure the 

additional tax.

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.

You may be eligible for a reduced tax rate of 10% if, during the 

correction period, you:

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.

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:

• The date of mailing the deficiency notice with respect to the 

imposition of this tax; or

• The date the tax is assessed; or

• The last day of the second taxable year that begins after the 

end of the taxable year in which the additional tax is 

imposed.

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 

window? 

[ ] 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 .......... 2.

3. Enter the portion of line 53 from all plans for which you answered "Yes" on line 1 .......... 3.

4. Subtract line 3 from line 2 ...................................................... 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 

of the excess accumulation during the correction window, otherwise enter the total on Form 

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. Enter the portion of line 53 from all plans for which you answered "No" on line 1 ........... 7.

8. Subtract line 7 from line 6 ...................................................... 8.

9. Multiply the amount on line 8 by 25% (0.25) ....................................... 9.

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.

Instructions for Form 5329 (2023) 9
Privacy Act and Paperwork Reduction Act Notice.

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.

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 

information are confidential, as required by section 6103. 

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.

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)