Form 5329 Line 55

[no-name1]

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?

[ThomasM125 · Accepted solution]

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.