chrisdg30
New Member

Retirement tax questions

Thanks. I will most likely take your advice on rolling over the 401k to an IRA. However, according to the 5329 form's instructions it says its a new exception that used with code 12 "other" and that you just have to send a statement with baby's name, age, and TIN number. But I believe this exception was with that CARES act that was good till the end of December 2021. So that's my other question. Will the CARES act be extended(which there is talk that it will be) or does this have nothing really to do with the CARES act and I can just use this form to denote the withdrawal that I plan to make this year? This below link is to the instructions on 5329 form.

 

https://www.irs.gov/pub/irs-pdf/i5329.pdf 

 

5329 form.png5329 form2.2.png