Federal Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts

Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
2023 Form 5329
Form

5329

Department of the Treasury
Internal Revenue Service

Additional Taxes on Qualified Plans
(Including IRAs) and Other Tax-Favored Accounts

OMB No. 1545-0074

2023

Attach to Form 1040, 1040-SR, 1040-NR, or 1041.
Go to www.irs.gov/Form5329 for instructions and the latest information.

Attachment
Sequence No. 29
Your social security number

Name of individual subject to additional tax. If married filing jointly, see instructions.
Home address (number and street), or P.O. box if mail is not delivered to your home

Fill in Your Address Only
if You Are Filing This
Form by Itself and Not
With Your Tax Return

City, town or post office, state, and ZIP code. If you have a foreign address, also complete the spaces
below. See instructions.

Foreign country name

Apt. no.

If this is an amended
return, check here
Foreign postal code

Foreign province/state/county

If you only owe the additional 10% tax on the full amount of the early distributions, you may be able to report this tax directly on
Schedule 2 (Form 1040), line 8, without filing Form 5329. See instructions.

Part I

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Additional Tax on Early Distributions. Complete this part if you took a taxable distribution (other than a qualified
disaster distribution) before you reached age 59½ from a qualified retirement plan (including an IRA) or modified
endowment contract (unless you are reporting this tax directly on Schedule 2 (Form 1040)—see above). You may also
have to complete this part to indicate that you qualify for an exception to the additional tax on early distributions or for
certain Roth IRA distributions. See instructions.

Early distributions includible in income (see instructions). For Roth IRA distributions, see instructions .
Early distributions included on line 1 that are not subject to the additional tax (see instructions).
. . . . . . . . . .
Enter the appropriate exception number from the instructions:
Amount subject to additional tax. Subtract line 2 from line 1 . . . . . . . . . . . . . .
Additional tax. Enter 10% (0.10) of line 3. Include this amount on Schedule 2 (Form 1040), line 8 . .
Caution: If any part of the amount on line 3 was a distribution from a SIMPLE IRA, you may have to
include 25% of that amount on line 4 instead of 10%. See instructions.

Part II

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Additional Tax on Certain Distributions From Education Accounts and ABLE Accounts. Complete this part
if you included an amount in income, on Schedule 1 (Form 1040), line 8z, from a Coverdell education savings account
(ESA) or a qualified tuition program (QTP), or on Schedule 1 (Form 1040), line 8q, from an ABLE account.

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Distributions included in income from a Coverdell ESA, a QTP, or an ABLE account . . . . . .
Distributions included on line 5 that are not subject to the additional tax (see instructions) . . . .
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Amount subject to additional tax. Subtract line 6 from line 5 . . . . . . . . . . . . . .
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Additional tax. Enter 10% (0.10) of line 7. Include this amount on Schedule 2 (Form 1040), line 8 . .
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Part III
Additional Tax on Excess Contributions to Traditional IRAs. Complete this part if you contributed more to your
traditional IRAs for 2023 than is allowable or you had an amount on line 17 of your 2022 Form 5329.
Enter your excess contributions from line 16 of your 2022 Form 5329. See instructions. If zero, go to line 15
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If your traditional IRA contributions for 2023 are less than your maximum
allowable contribution, see instructions. Otherwise, enter -0- . . . . . .
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2023 traditional IRA distributions included in income (see instructions) . . .
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2023 distributions of prior year excess contributions (see instructions) . . .
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Add lines 10, 11, and 12 . . . . . . . . . . . . . . . . . . . . . . . . . .
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Prior year excess contributions. Subtract line 13 from line 9. If zero or less, enter -0- . . . . . .
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Excess contributions for 2023 (see instructions) . . . . . . . . . . . . . . . . . .
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Total excess contributions. Add lines 14 and 15 . . . . . . . . . . . . . . . . . .
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Additional tax. Enter 6% (0.06) of the smaller of line 16 or the value of your traditional IRAs on December
31, 2023 (including 2023 contributions made in 2024). Include this amount on Schedule 2 (Form 1040), line 8
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Part IV
Additional Tax on Excess Contributions to Roth IRAs. Complete this part if you contributed more to your Roth
IRAs for 2023 than is allowable or you had an amount on line 25 of your 2022 Form 5329.
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Enter your excess contributions from line 24 of your 2022 Form 5329. See instructions. If zero, go to line 23 18
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If your Roth IRA contributions for 2023 are less than your maximum allowable
contribution, see instructions. Otherwise, enter -0- . . . . . . . . .
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2023 distributions from your Roth IRAs (see instructions) . . . . . . .
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Add lines 19 and 20 . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Prior year excess contributions. Subtract line 21 from line 18. If zero or less, enter -0- . . . . . .
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Excess contributions for 2023 (see instructions) . . . . . . . . . . . . . . . . . .
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Total excess contributions. Add lines 22 and 23 . . . . . . . . . . . . . . . . . .
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Additional tax. Enter 6% (0.06) of the smaller of line 24 or the value of your Roth IRAs on December 31,
2023 (including 2023 contributions made in 2024). Include this amount on Schedule 2 (Form 1040), line 8
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For Privacy Act and Paperwork Reduction Act Notice, see your tax return instructions.

Cat. No. 13329Q

Form 5329 (2023)

Page 2
Additional Tax on Excess Contributions to Coverdell ESAs. Complete this part if the contributions to your

Form 5329 (2023)

Part V
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Coverdell ESAs for 2023 were more than is allowable or you had an amount on line 33 of your 2022 Form 5329.
Enter the excess contributions from line 32 of your 2022 Form 5329. See instructions. If zero, go to line 31
26
If the contributions to your Coverdell ESAs for 2023 were less than the
maximum allowable contribution, see instructions. Otherwise, enter -0- . .
27
2023 distributions from your Coverdell ESAs (see instructions) . . . . .
28
Add lines 27 and 28 . . . . . . . . . . . . . . . . . . . . . . . . . . .
29
Prior year excess contributions. Subtract line 29 from line 26. If zero or less, enter -0- . . . . . .
30
Excess contributions for 2023 (see instructions) . . . . . . . . . . . . . . . . . .
31
Total excess contributions. Add lines 30 and 31 . . . . . . . . . . . . . . . . . .
32
Additional tax. Enter 6% (0.06) of the smaller of line 32 or the value of your Coverdell ESAs on December
31, 2023 (including 2023 contributions made in 2024). Include this amount on Schedule 2 (Form 1040), line 8

Part VI
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Additional Tax on Excess Contributions to Archer MSAs. Complete this part if you or your employer contributed

more to your Archer MSAs for 2023 than is allowable or you had an amount on line 41 of your 2022 Form 5329.
Enter the excess contributions from line 40 of your 2022 Form 5329. See instructions. If zero, go to line 39 34
If the contributions to your Archer MSAs for 2023 are less than the maximum
allowable contribution, see instructions. Otherwise, enter -0- . . . . . .
35
2023 distributions from your Archer MSAs from Form 8853, line 8 . . . .
36
Add lines 35 and 36 . . . . . . . . . . . . . . . . . . . . . . . . . . .
37
Prior year excess contributions. Subtract line 37 from line 34. If zero or less, enter -0- . . . . . .
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Excess contributions for 2023 (see instructions) . . . . . . . . . . . . . . . . . .
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Total excess contributions. Add lines 38 and 39 . . . . . . . . . . . . . . . . . .
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Additional tax. Enter 6% (0.06) of the smaller of line 40 or the value of your Archer MSAs on
December 31, 2023 (including 2023 contributions made in 2024). Include this amount on Schedule 2
(Form 1040), line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Part VII Additional Tax on Excess Contributions to Health Savings Accounts (HSAs). Complete this part 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.
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Enter the excess contributions from line 48 of your 2022 Form 5329. If zero, go to line 47 . . . .
If the contributions to your HSAs for 2023 are less than the maximum
allowable contribution, see instructions. Otherwise, enter -0- . . . . . .
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2023 distributions from your HSAs from Form 8889, line 16 . . . . . .
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Add lines 43 and 44 . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Prior year excess contributions. Subtract line 45 from line 42. If zero or less, enter -0- . . . . . .
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Excess contributions for 2023 (see instructions) . . . . . . . . . . . . . . . . . .
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Total excess contributions. Add lines 46 and 47 . . . . . . . . . . . . . . . . . .
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Additional tax. Enter 6% (0.06) of the smaller of line 48 or the value of your HSAs on December 31,
2023 (including 2023 contributions made in 2024). Include this amount on Schedule 2 (Form 1040), line 8
49
Part VIII Additional Tax on Excess Contributions to an ABLE Account. Complete this part if contributions to your ABLE
account for 2023 were more than is allowable.
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Excess contributions for 2023 (see instructions) . . . . . . . . . . . . . . . . . .
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Additional tax. Enter 6% (0.06) of the smaller of line 50 or the value of your ABLE account on
December 31, 2023. Include this amount on Schedule 2 (Form 1040), line 8 . . . . . . . . .
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Part IX
Additional Tax on Excess Accumulation in Qualified Retirement Plans (Including IRAs). Complete this part
if you did not receive the minimum required distribution from your qualified retirement plan.
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Minimum required distribution for 2023 (see instructions) . . . . . . . . . . . . . . .
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Amount actually distributed to you in 2023 (see instructions) . . . . . . . . . . . . . .
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Subtract line 53 from line 52. If zero or less, enter -0- . . . . . . . . . . . . . . . .
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Additional tax. See instructions for how to calculate the additional tax. If you qualify for the 10% tax
rate on excess accumulations in at least one qualified retirement plan, check this box.
Include this amount on Schedule 2 (Form 1040), line 8 or Form 1041, Schedule G, line 8 . . . . .
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Form 5329 (2023)