IRS Form 5329 · Excise Tax · June 2026
If you missed a required minimum distribution (RMD) from an IRA or retirement plan, Form 5329 is the IRS form you often use to report the additional tax tied to a missed RMD and, if eligible, request a waiver. The default excise tax is generally 25% of the amount not distributed as required, but may be reduced to 10% if corrected within the IRS correction window.
For most people, a missed RMD is not solved by just taking the distribution later. You still may need to report the shortfall on Form 5329 and explain why the miss happened. IRS instructions say the tax may be waived part or all of the way if you can show the failure was due to reasonable error and you are taking reasonable steps to remedy it. The exact result depends on the tax year, the account type, the size of the miss, and whether a year-specific relief rule applies.
An RMD is the minimum amount the IRS requires you to take from certain retirement accounts each year. A missed RMD usually means you took less than the required amount by the deadline.
That is different from:
Form 5329 covers several retirement-tax issues, so it helps to confirm you are dealing with an actual RMD shortfall before you file anything.
Form 5329 is commonly used to report the additional tax tied to a missed RMD. It is also the form used when you want to request a waiver of some or all of that tax.
The IRS instructions say the waiver is not automatic. You must show:
A missed RMD starts with a simple comparison: required amount vs. actual amount distributed. The required amount is generally based on the prior December 31 balance divided by the applicable distribution period or life expectancy factor from the IRS tables in Publication 590-B.
Gather these items:
Simple reconciliation formula: Missed amount = required RMD − amount actually distributed
IRS guidance states the missed-RMD excise tax can be 25% of the amount not distributed as required. The IRS also states 10% may apply if the amount is withdrawn within 2 years, according to its RMD topic page.
In reality, you may be looking at:
Do not assume the same outcome applies to every year or every account.
Form 5329 allows the IRS to waive part or all of the additional tax if the miss happened because of reasonable error and you are taking reasonable steps to remedy the shortfall. That is a facts-and-circumstances test, not an automatic pass.
The IRS instructions do not treat every mistake the same. A waiver request should explain, in plain language, what went wrong and why it happened despite ordinary care.
Examples of the kind of factual explanation you may need:
Examples:
The strongest Form 5329 submission is built on clean records. Keep a file with:
A waiver request is easier to evaluate when the facts are clear. If your numbers, dates, and explanation line up, your filing is easier to review.
A Gold IRA still follows the same IRS RMD rules as other IRAs. The difference is practical: selling assets, moving cash, and processing distributions can take extra time, so missed-RMD risk may be higher if you do not plan ahead.
That does not change the IRS rulebook. It just makes documentation and timing more important.
If your IRA is self-directed, build in extra time well before the RMD deadline.
IRS Publication 590-B (2025) describes a 2024 relief rule for missed required minimum distributions in certain situations. Review the specific conditions in the publication before relying on it.
This kind of relief can affect:
Because the rules are year-specific, do not rely on memory or old penalty articles. Check the current IRS publication for the exact requirements.
Compare the required amount with the amount actually distributed.
Look at the IRS RMD guidance and Publication 590-B for that year.
If you have not yet taken the full RMD, take the remaining amount as soon as practical.
If you are asking for relief, explain the error and the remedy clearly and factually.
Follow the IRS instructions for the missed-RMD penalty section and waiver request lines, and keep copies of everything you submit.
Most missed-RMD problems get worse when people rush, guess, or file without the right records. The IRS is looking for facts, not frustration.
Work from documents, not memory. Match every number to a statement, a calculation, or a distribution record.
In many missed-RMD cases, you file Form 5329 to report the additional tax and request a waiver if eligible. However, the IRS instructions also describe specific situations where a separate filing may not be needed depending on how the distribution was reported and how the instructions apply to your case.
No. IRS guidance describes 25% as the baseline, but it also says 10% may apply if corrected within 2 years, and some years may have specific relief rules such as Notice 2022-53 or Notice 2024-35.
It means the failure must be explainable as a real mistake, not a casual choice to skip the RMD. The IRS instructions require a factual explanation tied to the miss — for example, a custodian processing issue, a calculation misunderstanding, or a timing error.
Possibly. Correction does not always eliminate the need to report the issue or request a waiver. The IRS still wants to see that you have addressed both the distribution shortfall and the tax reporting question.
No. Publication 590-B describes a 2024 relief rule in certain situations. You need to verify the specific conditions in the publication before relying on it.