You fill out the 5329 for for each year. The penalty on line 55 must be ZERO. You send NO payment with the 5329. The tax will be paid on the 2020 distribution when you file your 2020 tax return in 2021.
See the 5329 instructions that I posted in an earlier post above.
(If someone tells you that you must pay the tax with the 5329 then they do not know what they are talking about.)
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
