Form 5329: Additional Taxes on Qualified Plans (Including IRAs) (2026)
Report — and often reduce — penalties on retirement account distributions.
Form 5329 reports additional taxes on retirement accounts: the 10% early-distribution penalty and the excise tax on a required minimum distribution you did not take. SECURE 2.0 reduced the maximum missed-RMD excise tax from 50% to 25%, and it may be reduced further — generally to 10% — when the shortfall is corrected within the applicable correction period and this form is filed.
Who files Form 5329
- Anyone who missed or under-took a required minimum distribution.
- People who took a distribution before 59.5 without an exception.
- Taxpayers who over-contributed to an IRA or HSA.
- Anyone requesting a waiver of the missed-RMD excise tax.
Missed an RMD? Act quickly
Take the missed distribution as soon as you discover the shortfall, then file Form 5329 for the year you missed it. Correcting within the applicable correction period can reduce the excise tax substantially. The IRS may also waive it entirely for reasonable cause — attach a statement explaining what happened and what you did to fix it.
Treat none of these rates as automatic: which applies depends on your facts and timing.
Your RMD starting age depends on your birth year
There is no single RMD age. It is generally 73 for people born from 1951 through 1959, and 75 for those born in 1960 or later. People born in 1949 or 1950 had a starting age of 72 under earlier law. Using the wrong age is a common route to a missed RMD.
Frequently asked questions
What is the penalty for missing an RMD?
An excise tax on the amount you failed to withdraw, up to 25% under SECURE 2.0 — reduced from the former 50%. It may be reduced further, generally to 10%, when corrected within the applicable correction period and reported on Form 5329.
At what age do RMDs start?
It depends on your date of birth: generally 73 if you were born from 1951 through 1959, and 75 if you were born in 1960 or later.
Can the penalty be waived entirely?
Yes. The IRS may waive it for reasonable cause. Take the missed distribution, file Form 5329, and attach an explanation of the cause and the corrective action.
Sources & verification
Last reviewed July 12, 2026.