Automate Form 5329, Additional Taxes on Qualified Plans using AI

Stop typing manually. Upload your data and get a filled Form 5329, Additional Taxes on Qualified Plans in under 1 minute with 100% precision.

Form 5329, Additional Taxes on Qualified Plans

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How It Works

Fill Form 5329, Additional Taxes on Qualified Plans in 4 simple steps

Upload Your Data

Upload your information in any format - text, Excel, image, PDF, or Word doc. Fyllyo AI will understand it.

Select Form 5329, Additional Taxes on Qualified Plans

Choose from our library of common PDFs or upload your own custom form.

Press Fill

Our AI automatically organizes, formats, and fills the PDF with 100% precision.

Download & Submit

Get your filled PDF in less than a minute. Review and submit with confidence.

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Why Use Fyllyo?

Save time, reduce errors, and fill forms with confidence

Smart AI Organization

Upload your data in any format. Our AI automatically understands, organizes, and formats it to match the PDF fields perfectly.

100% Precision

No manual editing needed afterwards. Our AI ensures every field is filled correctly the first time, so you can submit with confidence.

Under 1 Minute

What takes hours manually takes less than a minute with Fyllyo. Upload, click fill, and download your completed form.

Secure & Private

Your data is encrypted at all times and securely stored. Delete your data permanently after use - you have full control.

Form Details

Official Form

Official information about Form 5329, Additional Taxes on Qualified Plans

Issued By

IRS

View Official Form

User Guide

Everything you need to know to fill Form 5329, Additional Taxes on Qualified Plans with Fyllyo

Collect your plan and account details

Gather statements for any early distributions (IRAs, 401(k)s, 403(b)s), plus distributions from education accounts (Coverdell ESA, 529/QTP) and ABLE accounts. Note dates, amounts, and why the money was used—this helps identify exceptions. If you made excess contributions to IRAs, ESAs, MSAs, or HSAs, have those contribution records ready.

Upload everything to Fyllyo (any format works)

Drag in PDFs, brokerage 1099-Rs, plan statements, account screenshots, spreadsheets, or even photos of paper forms. Fyllyo’s AI reads and organizes your data automatically—no manual typing or formatting needed.

Select “Form 5329, Additional Taxes on Qualified Plans”

From Fyllyo’s library, choose Form 5329. We’ll guide you through Part I (early distributions), Parts II–VIII (education/ABLE), and the excess contribution sections for traditional/Roth IRAs, ESAs, Archer MSAs, and HSAs—so you only answer what applies to you.

Let Fyllyo map amounts and exceptions to the right lines

Our AI pinpoints total early distributions, determines what is exempt from additional tax, and inserts the correct exception code. For excess contributions, it detects the account type, compares against annual limits, and prepares the proper section and calculations automatically.

Review & validation in one pass

Fyllyo checks signatures if filing Form 5329 by itself, verifies that additional tax flows to Schedule 2 (Form 1040) line 8, confirms exception numbers are present when needed, and validates math across Parts I–IX. Any missing documents or mismatches are clearly flagged.

Download an IRS-ready PDF

Export your completed Form 5329 to attach to your Form 1040/1040-SR/1040-NR. If you need to file it by itself, Fyllyo includes your address and signature prompts so it’s accepted without delays.

Save your Fyllyo profile for next year (optional)

Store your plan details securely so future Form 5329 filings are even faster. Fyllyo remembers your accounts and applies the right rules automatically—saving time and avoiding repeat errors.

💡 Fyllyo Tip

Our AI can read data from multiple sources - whether it's a text file, Excel spreadsheet, scanned document, or even a photo. Just upload your information in the most convenient format for you, and Fyllyo will handle the rest.

Compliance & Best Practices

Common issues when filling Form 5329, Additional Taxes on Qualified Plans and how Fyllyo prevents them

Form 5329 not attached (or missing signature when filed alone)

Submitting Form 5329 incorrectly—either not attaching it to your Form 1040 when required or failing to sign it when filed by itself—can cause processing delays and penalties.

How Fyllyo Helps

Fyllyo detects your filing method, ensures Form 5329 is attached to your return when needed, and prompts for your address and signature if you’re mailing the form independently.

Wrong early-distribution math or missing exception number (Part I)

Early distributions often owe a 10% additional tax unless an exception applies. Misstating totals or leaving out the exception number can overstate tax or lead to IRS notices.

How Fyllyo Helps

Fyllyo totals your distributions, calculates the non-taxable amount, applies the correct 10% where needed, and inserts the proper exception code so your Part I is accurate.

Forgetting to carry additional tax to Schedule 2 (Form 1040) line 8

Even if Part I or Part II is correct, failing to include the additional tax on Schedule 2 means underreporting your overall liability—triggering letters and corrections.

How Fyllyo Helps

Fyllyo automatically posts the computed additional tax to Schedule 2, line 8 and shows you the cross-form linkage before you download.

Incorrect reporting of education/ABLE distributions (Parts II–VIII)

Distributions from Coverdell ESAs, 529/QTPs, or ABLE accounts can be partly non-taxable. Misclassifying amounts or missing qualified-expense details can create avoidable additional tax.

How Fyllyo Helps

Fyllyo reads your statements, separates qualified vs. non-qualified amounts, computes the non-taxable portion on line 5, and applies the 10% only to what truly owes it.

Excess IRA contributions not identified or miscalculated (Traditional/Roth)

Contributions over the annual limit (or ineligible contributions) can trigger an excise tax (commonly 6% per year) until corrected. Missing this wastes money and invites IRS follow-up.

How Fyllyo Helps

Fyllyo compares your IRA contributions to annual limits, flags excess amounts, calculates the applicable excise tax, and documents correction options to minimize what you owe.

Excess contributions in ESAs, Archer MSAs, or HSAs not handled

Going over limits in Coverdell ESAs, Archer MSAs, or HSAs can create additional taxes if not corrected on time. Manual math errors are common and costly.

How Fyllyo Helps

Fyllyo detects excesses by account type, applies the correct rates, and produces the exact figures for the appropriate Form 5329 part—complete with an audit-ready trail of calculations.

Missing or wrong exception leads to overpaying the 10% tax

Some distributions qualify for exceptions (for example, certain first-time home, medical, or higher-education uses). If you do not claim the correct exception, you may overpay.

How Fyllyo Helps

Fyllyo asks plain-English questions to identify exception eligibility, selects the proper exception number, and documents why the additional tax doesn’t apply to that portion.

Arithmetic and line-reference errors across parts

Manually moving numbers between lines and parts increases the risk of math mistakes, which can trigger notices, delays, or penalties.

How Fyllyo Helps

Fyllyo performs all calculations, line transfers, and rounding automatically, then runs a final consistency check so every subtotal and carryover matches.

Paid preparer box incomplete

If you use a paid preparer, missing signatures or preparer details can stall processing and require rework.

How Fyllyo Helps

Fyllyo prompts for preparer information when applicable and won’t let you finalize until required signature blocks are complete.

✨ Automated Validation

Fyllyo automatically validates all entries before generating your filled PDF, ensuring 100% accuracy and compliance with form requirements.

Ready to Automate Form 5329, Additional Taxes on Qualified Plans?

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