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distributed and the amount that was

than April 1 following the later of (a) the

you made certain contributions or

actually distributed.

year in which you reach age 70

or (b)

received certain distributions from

the year in which you retire.

qualified plans, including IRAs, and

Required Distributions

other tax-favored accounts. Our legal

Exception. If you owned more than

right to ask for the information

5% of the employer maintaining the

IRA (other than a Roth IRA). You

requested on this form is sections

plan, you must begin receiving

must start receiving distributions from

6001, 6011, 6012(a), and 6109 and

distributions no later than April 1 of the

your IRA by April 1 of the year following

their regulations. The reason we need

the year in which you reach age 70

year following the year in which you

your social security number is to secure

At that time, you can receive your entire

reach age 70

, regardless of when you

proper identification in order to gain

interest in the IRA or begin receiving

retire.

access to the tax information in our files

periodic distributions. If you choose to

Your plan administrator should figure

to properly process the form.

receive periodic distributions, you must

the amount that must be distributed

receive a minimum required distribution

You are not required to provide the

each year.

each year. You can figure the minimum

information requested on a form that is

Waiver of tax. The IRS can waive part

required distribution by dividing the

subject to the Paperwork Reduction Act

or all of this tax if you can show that

account balance of your IRAs (other

unless the form displays a valid OMB

any shortfall in the amount of

than Roth IRAs) on December 31 of the

control number. Books or records

distributions was due to reasonable

year preceding the distribution by the

relating to a form or its instructions

error and you are taking appropriate

applicable life expectancy. For

must be retained as long as their

steps to remedy the shortfall. If you

applicable life expectancies, see Pub.

contents may become material in the

believe you qualify for this relief, attach

590.

administration of any Internal Revenue

a statement of explanation and file

law. Generally, tax returns and return

If the trustee, custodian, or issuer of

Form 5329 as follows.

information are confidential, as required

your IRA informs you of the minimum

1. Complete lines 50 and 51 as

by section 6103. However, we may give

required distribution, you can use that

instructed.

this information to the Department of

amount.

2. Enter “RC” and the amount you

Justice for civil and criminal litigation,

If you have more than one IRA, you

want waived in parentheses on the

and to cities, states, and the District of

can take the minimum required

dotted line next to line 52. Subtract this

Columbia to carry out their tax laws. We

distribution from any one or more of the

amount from the total shortfall you

may also disclose this information to

individual IRAs.

figured without regard to the waiver,

other countries under a tax treaty, to

and enter the result on line 52.

For more details on the minimum

federal and state agencies to enforce

3. Complete line 53 as instructed.

distribution rules (including examples),

federal nontax criminal laws, or to

You must pay any tax due that is

see Pub. 590.

federal law enforcement and

reported on line 53.

intelligence agencies to combat

A qualified charitable distribution

terrorism.

TIP

will count towards your

The IRS will review the information

minimum required distribution.

The average time and expenses

you provide and decide whether to

See Pub. 590 for more information.

required to complete and file this form

grant your request for a waiver.

will vary depending on individual

Roth IRA. There are no minimum

For more details, see Pub. 590.

circumstances. For the estimated

required distributions during the lifetime

averages, see the instructions for your

Privacy Act and Paperwork

of the owner of a Roth IRA. Following

income tax return.

Reduction Act Notice. We ask for the

the death of the Roth IRA owner,

information on this form to carry out the

required distribution rules apply to the

If you have suggestions for making

Internal Revenue laws of the United

beneficiary. See Pub. 590 for details.

this form simpler, we would be happy to

States. We need this information to

hear from you. See the instructions for

Qualified retirement plans (other

ensure that you are complying with

your income tax return.

than IRAs) and eligible section 457

these laws and to allow us to figure and

deferred compensation plans. In

collect the right amount of tax. You are

general, you must begin receiving

required to give us this information if

distributions from your plan no later

-6-

Instructions For Form 5329 - Additional Taxes On Qualified Plans And Other Tax-Favored Accounts - 2007 Page 6

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