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id="en_US_2025_publink1000172810"> More information. For more information on excess accumulations, see What Acts Result in Penalties or Additional Taxes? in chapter 1 of Pub. 590-B. Reporting Additional Taxes Generally, you must use Form 5329 to report the tax on excess contributions, early distributions, and excess accumulations. Filing a tax return. If you must file an individual income tax return, complete Form 5329 and attach it to your Form 1040 or 1040-SR. Enter the total additional taxes due on Schedule 2 (Form 1040), line 8. Not filing a tax return. If you don't have to file a tax return but do have to pay one of the additional taxes mentioned earlier, file the completed Form 5329 with the IRS at the time and place you would have filed your Form 1040 or 1040-SR. Be sure to include your address on page 1 and your signature and date on page 3. For payment options, see the Instructions for Form 1040 or the Instructions for Form 1040-NR, or go to IRS.gov/Payments to see all your payment options. Form 5329 not required. You don't have to use Form 5329 if any of the following situations exist. Distribution code 1 (early distribution) is correctly shown in box 7 of all your Forms 1099-R. If you don't owe any other additional tax on a distribution, multiply the taxable part of the early distribution by 10% (0.10) and enter the result on Schedule 2 (Form 1040), line 8. If you don't have to file Form 5329, check the box next to the entry space after the text “if not required, check here.” However, if you owe this tax and also owe any other additional tax on a distribution, don't enter this 10% additional tax directly on your Form 1040 or 1040-SR. You must file Form 5329 to report your additional taxes. If you rolled over part or all of a distribution from a qualified retirement plan or IRA, the part rolled over isn't subject to the tax on early distributions. If you have a qualified disaster distribution. Roth IRAs Regardless of your age, you may be able to establish and make nondeductible contributions to a retirement plan called a Roth IRA. Contributions not reported. You don't report Roth IRA contributions on your return. What Is a Roth IRA? A Roth IRA is an individual retirement plan that, except as explained in this chapter, is subject to the rules that apply to a traditional IRA (defined earlier). It can be either an account or an annuity. Individual retirement accounts and annuities are described under How Can a Traditional IRA Be Opened? in chapter 1 of Pub. 590-A. To be a Roth IRA, the account or annuity must be designated as a Roth IRA when it is opened. Unlike a traditional IRA, you can't deduct contributions to a Roth IRA. But, if you satisfy the requirements, qualified distributions (discussed later) are tax free. You can leave amounts in your Roth IRA as long as you live. When Can a Roth IRA Be Opened? You can open a Roth IRA at any time. However, the time for making contributions for any year is limited. See When Can You Make Contributions under Can You Contribute to a Roth IRA? next. Can You Contribute to a Roth IRA? Generally, you can contribute to a Roth IRA if you have taxable compensation (defined later) and your modified AGI (defined later) is less than: $246,000 for married filing jointly or qualifying surviving spouse; $165,000 for single, head of household, or married filing separately and you didn't live with your spouse at any time during the year; or $10,000 for married filing separately and you lived with your spouse at any time during the year. . You may be eligible to claim a credit for contributions to your Roth IRA. For more information, see chapter 3 of Pub. 590-A. .

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