Publication 590: Individual Retirement Arrangements (IRAs);

This is archived information that pertains only to the 2004 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

Form 5329 Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts 2004. Summary: This is an example of Form 5329 (2004) as pertains to the description in the text. The line items completed are:

“Name of individual subject to additional tax. If married filing jointly, see page 1 of the instructions.” field contains Tom Jones

“Your social security number” field contains 004-00-0000

Under “Part I: Additional Tax on Early Distributions”:

“1. Early distributions included in income. For Roth IRA. distributions, see instructions” field contains 3,000

“2. Early distributions included on line 1 that are not subject to the additional tax (see instructions).” field contains 0

“3. Amount subject to additional tax. Subtract line 2 from line 1” field contains 3,000

“4. Additional tax. Enter 10% (.10) of line 3. Include this amount on Form 1040, line 59” field contains 300