[9497]
December 9, 1997
TO: PENSION MEMBERS No. 56-97
PENSION OPERATIONS ADVISORY COMMITTEE No. 49-97
RE: IRS ISSUES FORMS 4972 AND 5329
______________________________________________________________________________
The Internal Revenue Service has issued the 1997 Forms 4972 and 5329, copies of which are
attached. Taxpayers use Form 4972 to calculate the tax owed on qualified lump-sum distributions from
qualified retirement plans in 1997, if electing the 5- or 10-year tax option or the 20% capital gain
election. Form 5329 is used by taxpayers to report additional income or excise taxes owed in connection
with a qualified pension plan, including IRAs, SIMPLE plans and Medical Savings Accounts. Changes
to the Form 5329 are noted in the accompanying instructions.
Russell G. Galer
Associate Counsel - Pension
Attachments (in .pdf format)