You'll need to sign in or create an account to connect with an expert.
There are many possible reasons that Form 5329 might be needed that do not involve an IRA distribution. The most common reasons are that you made excess contributions to an IRA or HSA, or you were required to take a distribution (an RMD) from your IRA but you did not take it.
Did you really miss the deadline to take out a required distribution.?
If, so you must file Form 5329.
If you want the penalty waived, you must give an explanation showing you took action to correct the problem.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
l0cf022
New Member
heagleone
New Member
jacobsoo
New Member
wcryan-assoc
New Member
Max171
Level 1