topic Re: Excess accumulation -- additional text in Retirement tax questions

Excess accumulation

jlongley49 — Fri, 11 Apr 2025 23:31:38 GMT

Why does it show "excess accumulation in qualified retirement plan"?

Re: Excess accumulation -- additional text

jlongley49 — Fri, 11 Apr 2025 23:41:27 GMT

I just posted here a minute ago. I need to add this text: as far as I know I took all the necessary RMD amounts from my retirement accounts. Last year's filing had my RMD within about $100 of this year's (2024). I was refunded $3,893 in 2023, but this year my filing shows $3,043 in Excess Accumulation in Qualified Retirement Plans on form 5329, and my refund comes to only $700+. Why the difference in refund of $3,193? I followed all the appropriate steps and received appropriate RMDs.

Re: Excess accumulation -- additional text

DanaB27 — Sat, 12 Apr 2025 11:38:39 GMT

It seems you need to review your RMD answers since you show a penalty on Form 5329 part IX.

Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and enter your 1099-R
Enter the RMD amount for this account on the "Let's get more information about your Required Minimum Distribution (RMD)" screen
Continue until "How much of this distribution applied to your December 31, 2024 RMD?" screen and select "The entire distribution was an RMD" /or select "Only part of this distribution was a RMD" and enter the amount of RMD (if this distribution includes RMD for other IRA accounts then you included the amount here).
On the "Here's your 1099-R info" screen click "Continue"
On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024.

Please see Can an account owner just take a RMD from one account for additional information.