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Information about Form 5329, Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts, including recent updates, related forms and instructions on how to file. Form 5329 is used by any individual who has established a retirement account, annuity or retirement bond.

Use Form 5329, Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts, to report additional taxes on IRAs, other qualified retirement plans, modified endowment contracts, Coverdell ESAs, QTPs, Archer MSAs, or HSAs.

Use Form 5329, Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts, to report additional taxes on IRAs, other qualified retirement plans, modified endowment contracts, Coverdell ESAs, QTPs, Archer MSAs, or HSAs.

Topic No. 557 Additional Tax on Early Distributions from Traditional and Roth IRAs

When the additional 10% tax on early distributions from retirements plans does and does not apply and how to report it

Information about Publication 969, Health Savings Accounts (HSA) and Other Tax-Favored Health Plans, including recent updates. Publication 969 explains HSAs, medical savings accounts, health flexible spending arrangements, and health reimbursement arrangements.

The Fix Is In: Common Plan Mistakes - Failure to Timely Start Minimum Distributions

Information about Publication 575, Pension and Annuity Income, including recent updates.

An individual retirement arrangement (IRA) is a tax-favored personal savings arrangement, which allows you to set aside money for retirement. There are several different types of IRAs, including traditional IRAs and Roth IRAs. You can set up an IRA with a bank, insurance company, or other financial institution.

You owe taxes and penalties because you didn't take out the required minimum amount from your individual retirement arrangement (IRA), or you put into a tax-sheltered account more than you can legally.