Instructions For Form 5329 - 2016 Page 7
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8Part VII—Additional Tax on
Line 35
“Filed pursuant to section 301.9100-2”
written at the top. Report any related
Excess Contributions to
If contributions to your Archer MSAs for
earnings for 2016 on the amended
2016 were less than your contribution
Health Savings Accounts
return and include an explanation of the
limit for Archer MSAs, enter the
(HSAs)
withdrawal. Make any other necessary
difference on line 35. Your contribution
changes on the amended return (for
If you, someone on your behalf, or your
limit for Archer MSAs is the smaller of
example, if you reported the
employer contributed more to your
line 3 or line 4 of Form 8853, Archer
contributions as excess contributions on
HSAs for 2016 than is allowable or you
MSAs and Long-Term Care Insurance
your original return, include an amended
had an amount on line 49 of your 2015
Contracts.
Form 5329 reflecting that the withdrawn
Form 5329, you may owe this tax. But
Also include on your 2016 Form
contributions are no longer treated as
you may be able to avoid the tax on any
8853, line 5, the smaller of:
having been contributed).
2016 excess contributions (see the
Form 5329, line 35, or
instructions for
line 47
below).
Part VIII—Additional Tax
The excess, if any, of Form 5329,
Line 42
line 34, over Form 5329, line 36.
on Excess Contributions
Enter the amount from line 48 of your
to ABLE Accounts
Line 39
2015 Form 5329 only if the amount on
Enter the excess of your contributions to
If the contributions to your
ABLE
line 49 of your 2015 Form 5329 is more
your Archer MSA for 2016 from Form
account
for 2016 were more than is
than zero.
8853, line 2 (unless
allowable, you may owe this tax. But
Line 43
withdrawn—discussed next), over your
you may be able to avoid the tax on any
contribution limit (the smaller of line 3 or
2016 excess contributions (see the
If contributions to your HSAs for 2016
line 4 of Form 8853). Also include on
instructions for line 50).
(line 2 of Form 8889, Health Savings
line 39 any excess contributions your
Accounts (HSAs)) were less than your
Line 50
employer made. See the Instructions for
contribution limit for HSAs, enter the
Enter the excess, if any, of the
Form 8853 for details.
difference on line 43. Your contribution
contributions to your ABLE account for
limit for HSAs is the amount on line 12
You can withdraw some or all of the
2016 over the contribution limit. The
of Form 8889.
excess contributions for 2016 and they
contribution limit to your ABLE account
will be treated as not having been
Also include on your 2016 Form
from all sources for 2016 is $14,000.
contributed if:
8889, line 13, the smaller of:
Do not include
ABLE rollovers
or
You make the withdrawal by the due
Form 5329, line 43, or
program-to-program transfers
in figuring
date, including extensions, of your 2016
The excess, if any, of Form 5329,
your excess contributions.
tax return, and
line 42, over Form 5329, line 44.
You withdraw any income earned on
You will not incur an additional tax on
Line 47
the withdrawn contributions and include
a contribution to your ABLE account that
the earnings in gross income for the
Enter the excess of your contributions
is in excess of the contribution limit if the
year in which you receive the withdrawn
(including those made on your behalf) to
qualified ABLE program returns the
contributions and earnings.
your HSAs for 2016 from Form 8889,
contribution, including all net income
line 2 (unless withdrawn—discussed
attributable to the contribution, to the
Include the withdrawn contributions
next), over your contribution limit (Form
person who made the contribution (the
and related earnings on Form 8853,
8889, line 12). Also include on line 47
“contributor”), and the contributor
lines 6a and 6b.
any excess contributions your employer
receives the contribution on or before
made. See the Instructions for Form
If you timely filed your return without
the due date (excluding extensions) for
8889 for details.
withdrawing the excess contributions,
filing your Federal income tax return.
you can still make the withdrawal no
You can withdraw some or all of the
If the contributor receives the
later than 6 months after the due date of
excess contributions for 2016 and they
contribution after you have filed your
your tax return, excluding extensions. If
will be treated as not having been
original tax return but before the due
you do, file an amended return with
contributed if:
date (including extensions) for filing
“Filed pursuant to section 301.9100-2”
You make the withdrawal by the due
your return, you may file an amended
written at the top. Report any related
date, including extensions, of your 2016
return reflecting the return of the
earnings for 2016 on the amended
return, and
contribution to the contributor with “Filed
return and include an explanation of the
You withdraw any income earned on
pursuant to section 301-9100-2” written
withdrawal. Make any other necessary
the withdrawn contributions and include
at the top. Make any necessary
changes on the amended return (for
the earnings in gross income for the
changes on the amended return. For
example, if you reported the
year in which you receive the withdrawn
example, if you reported the contribution
contributions as excess contributions on
contributions and earnings.
as excess contributions on your original
your original return, include an amended
Include the withdrawn contributions
return, include an amended Form 5329
Form 5329 reflecting that the withdrawn
and related earnings on Form 8889,
reflecting that the withdrawn
contributions are no longer treated as
lines 14a and 14b.
contributions are no longer treated as
having been contributed).
having been contributed.
If you timely filed your return without
withdrawing the excess contributions,
you can still make the withdrawal no
later than 6 months after the due date of
your tax return, excluding extensions. If
you do, file an amended return with
Instructions for Form 5329 (2016)
-7-
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