Form 5329 Line 55

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In January, 2024, I realized my plan administrator missed making automatic RMD distributions in 2023. I immediately requested the distribution. On Form 5329 I am requested a waiver of the penalty. Do I need to fill out Line 55? If so, does the tax get included in total taxes due and if waiver is granted, I get a refund?

ThomasM125Answer

Alumni - Intuit

No, you don't include the tax on line 55 of Form 5329 or on your return. If your waiver request is denied, the IRS will send you a notice of tax due, which is unlikely to happen.

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ThomasM125Answer

Alumni - Intuit

No, you don't include the tax on line 55 of Form 5329 or on your return. If your waiver request is denied, the IRS will send you a notice of tax due, which is unlikely to happen.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"