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Instructions for Form 5329

Part IV—Additional Tax on Excess Contributions to Roth IRAs(p5)

If you contributed more to your Roth IRA for 2014 than is allowable or you had an amount on line 25 of your 2013 Form 5329, you may owe this tax. But you may be able to avoid the tax on any 2014 excess contributions (see the instructions for line 23, later).


Line 18(p5)

Enter the amount from line 24 of your 2013 Form 5329 only if the amount on line 25 of your 2013 Form 5329 is more than zero.

Line 19(p5)

If you contributed less to your Roth IRAs for 2014 than your contribution limit for Roth IRAs, enter the difference. Your contribution limit for Roth IRAs is generally your contribution limit for traditional IRAs (see the instructions for line 10, earlier) reduced by the amount you contributed to traditional IRAs. But your contribution limit for Roth IRAs may be further reduced or eliminated if your modified AGI for Roth IRA purposes is over:
See Can You Contribute to a Roth IRA? in Pub. 590-A for details.

Line 20(p5)

Generally, enter the amount from Form 8606, line 19, plus any qualified distributions. But if you withdrew the entire balance of all of your Roth IRAs, do not enter less than the amount on Form 5329, line 18 (see Example next).


You contributed $1,000 to a Roth IRA in 2012, your only contribution to Roth IRAs. In 2014, you discovered you were not eligible to contribute to a Roth IRA in 2012. On September 9, 2014, you withdrew $800, the entire balance in the Roth IRA. You must file Form 5329 for 2012 and 2013 to pay the additional taxes for those years. When you complete Form 5329 for 2014, you enter $1,000 (not $800) on line 20, because you withdrew the entire balance.

Line 23(p6)

Enter the excess of your contributions to Roth IRAs for 2014 (unless withdrawn—discussed below) over your contribution limit for Roth IRAs. See the instructions for line 19, earlier, to figure your contribution limit for Roth IRAs.
Do not include rollovers in figuring your excess contributions.
You can withdraw some or all of your excess contributions for 2014 and they will be treated as not having been contributed if:
If you timely filed your return without withdrawing the excess contributions, you can still make the withdrawal no later than 6 months after the due date of your tax return, excluding extensions. If you do, file an amended return with Filed pursuant to section 301.9100-2 written at the top. Report any related earnings for 2014 on the amended return and include an explanation of the withdrawal. Make any other necessary changes on the amended return (for example, if you reported the contributions as excess contributions on your original return, include an amended Form 5329 reflecting that the withdrawn contributions are no longer treated as having been contributed).