What is Part IX of IRS Form 5329 asking me?

[kizeim]

I missed taking my 2024 first required minimum distribution from my retirement account and must file IRS form 5329. Question 52 has parts "a" and "b". What is the difference?

[dmertz]

Excess accumulations fall into two categories:  those that are corrected within the correction window and those that are not corrected within the correction window.  Unless the penalty is waived for good reason, those corrected within the correction window are subject to a 10% penalty while those not corrected within the correction window are subject to a 25% penalty.  Part IX lines 'a' relate to those corrected within the correction window and lines 'b' relate to those not corrected within the correction window.

The correction window runs to the end of the second year after the year of the missed distribution except in cases where the IRS issues a deficiency notice or assessed the penalty before then.  For a missed 2024 RMD, the correction window would generally run to the end of 2026.

[fanfare]

Since a waiver request requires timely action on your part which you already took or will shortly take, use the "a" lines to document the amounts.

"Include dates and amounts in your explanation statement." -- IRS

@kizeim