Question

Filing past 5329 after tax season?

Forum|Forum|3 years ago
May 3, 2023
1 reply
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If I need to file a 5329 for 2018 and 2019 can I do that after April 18?
I have already filed my taxes for 2022 and received the refund, but now I need to file Form 5329 for 2018 and 2019.

Is ok to file those forms anytime throughout the year or does it have to be during 'tax season'?

DoninGA

Employee

https://www.irs.gov/pub/irs-pdf/i5329.pdf

Prior tax years. If you are filing Form 5329 for a prior year, you must use the prior year's version of the form. If you don’t have any other changes and haven’t previously filed a federal income tax return for the prior year, file the prior year's version of Form 5329 by itself (discussed earlier). If you have other changes, file Form 5329 for the prior year with Form 1040-X, Amended U.S. Individual Income Tax Return.

2018 Form 5329 - https://www.irs.gov/pub/irs-prior/f5329--2018.pdf

2019 Form 5329 - https://www.irs.gov/pub/irs-prior/f5329--2019.pdf

R

RothExcessPastAuthor

This is why I wish the instructions were more clear.
If really doesn't give a good time frame as to when to file unless it is for current year. All it says for past years is file it by itself, but doesn't say when to file. I guess it's just a generic 'file whenever you want' form.

fanfare

Employee

As per the instructions quoted above,

the proper way to file Form 5329 is attached to Form 1040-X.
Form 5329 can be mailed by itself only when you are otherwise not required to file a tax return.

After you e-File,
get Form 1040-X from IRS website and mail it in with your 5329 which you can also get in fillable PDF.

check the 1040-X box for the year you are amending.

Note: If you need Form 5329 for Excess you are paying a penalty so you have to enter the appropriate amounts on 1040-X Lines 1-23

Include any other forms or schedules that changed due to your amendment. (currently Schedule 2 Line 8, IRS keeps moving lines around )

Do not include your old 1040 nor your revised 1040 because the Form 1040-X reflects any changes there and becomes your new tax return.

Done this way, you sign 1040-X, not 5329.

@RothExcessPast