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Form 5329 Line 55

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?

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ThomasM125
Expert Alumni

Form 5329 Line 55

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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1 Reply
ThomasM125
Expert Alumni

Form 5329 Line 55

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"
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