Form 5329 for Maryland 2024-2025

Form 5329 for Maryland: What You Should Know

Complete and submit your tax declaration with the following required documents. Filing status : All current tax forms can be obtained by completing the Maryland Income Tax Form FAR (Form 1120) by clicking on “Download Form” at the top right of this post. Filing authority : The information you include for Form 5329 (“other information relating to IRAs, other qualified retirement plans and modified endowment contracts”) at line 25c of Form 5329 must include your: ● Social security number ● Taxpayer identification number (“TIN”) ● County of residence ● Employer Identification Number (“EIN”) and/or Employer Identification Code (“EIC”) ● Last four digits of your Individual Taxpayer Identification Number (“ITIN”) (see IRS Publication 3, Your Tax Information) Personal Information: The following sections are for the person who intends to: · Complete and submit your tax declaration as shown in the instructions in this Post If you are not a United States individual, and you are in an IRS-designated high-value tax return status, you must be eligible for and submit a Maryland return if you filed a 2025 income tax return, filed a 2025 change of taxpayer identification number(s) or the return was approved to prepare a 2025 return under the Individual Taxpayer Identification Number (“ITIN”). You or your legal representative may complete the Form 5329 for you or for any other user who is not a United States individual and who is eligible for and returns a Form 5329. For further information, see IRS Publication 2, Tax Guide for High-Value Taxpayers. Please Note: A Form 5329 is not issued automatically. You must fill out and submit the form if you intend to file a Form 5329. Form 5329 is not required for: · Any distribution from an IRA (including spousal IRAs) (see IRM 20.5.3.2.1 (5)(h) “Distribution from an IRA or spousal IRA”). · Any distribution from a qualified retirement plan (see IRM 20.5.3.2.1 (8)(e), Retirement plan and plan amendment(s)). Any other retirement plan or contribution (defined contribution) (other than an IRA) (see IRM 20.5.5.4.8 (A)(2)(b)) which would reduce your gross income below the standard deduction.

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