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What is Form 5329? Its title is "Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts." You should file the form whenever you miss a required distribution, take a distribution before age 59 ½ when one of the penalty exceptions does not apply, and when you make excess contributions. Those are most of the reasons to file the form. The form calculates any additional taxes owed (what are often called penalties) for certain IRA transactions. Not filing the form could only make things much, much worse.

During 2009 I lost $3,000 that was in an IRA and wasn’t notified of that loss until after I had...

If a “qualified” Trust is the designated beneficiary of an IRA when MUST the first RMD be taken? I assume...

Can an 401k particpant roll after tax contributions into a Roth IRA or a traditional IRA?

My wife and I have both maxed out our 401K’s with our employers. Our combined income is over $200,000. What...

Employer erroneously does not include an employee (unrelated, not an officer or highly compensated) in the calculation of SEP contribution....

Good afternoon, Can an employer set up a SEP-IRA himself and employees and not make employer contributions to it? If...

I converted my TIRA to a Roth in 2010. Now realize I want to recharacterize due to large tax due...

You are not yet 59 1/2 and have become disabled. You want to take funds out of your IRA. Can you escape the 10% early distribution penalty?

A prospect brought in a check for $19,300 representing a distribution from an Indexed Annuity after paying an 8% surrender...