The 5329 is used for many reasons other then retirement plans.
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.
You can print all forms (after your pay) and see what line the additional tax is on and that will tell you the reason.
**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.**
