Need help with IRS Form 5329 - can't locate it anywhere and getting frustrated

Does the IRS return transcript really show all the forms? I thought it just gave you the basics like AGI and stuff, not full copies of everything you filed.

The tax return transcript doesn't provide actual images of the forms, but it does show most of the line items from your forms, including information from Form 5329. It won't be as detailed as having the actual form, but it should show the distribution amount and the early withdrawal penalty calculated. In some cases, if the form wasn't processed digitally or was filed as an amendment, it might not appear completely on the transcript. That's when you'd need to use Form 4506 for a complete copy, though as I mentioned, there is a fee and longer processing time.

How does it work with the transcripts though? Does it just read what's on the transcript or does it somehow get access to the actual forms?

Sounds interesting but I'm a bit cautious about uploading my tax docs to some random site. Is it secure? And how much does it cost?

It works by analyzing the data in your transcript and reconstructing what would have been on your original forms. The transcript contains most of the numerical data from your filed forms, but it's organized in a way that's hard for regular people to understand. The tool basically translates that into the familiar format of the actual tax forms. It's completely secure - they use the same encryption that banks do and don't store your documents after processing. I was skeptical too at first, but they don't even ask for your SSN or any identifying info that isn't already in the transcript.

Wait, how does this actually work? Do they have some special connection to the IRS or something? I don't get how they can get through when nobody else can.

Sounds like BS honestly. If the IRS phone lines are jammed, how is this service magically getting through? Sounds like they're just taking your money for something you could do yourself if you're patient enough.

They don't have any special connection to the IRS - they use automated technology to continuously redial and navigate the IRS phone tree until they get through to the hold queue. It's basically doing what you would do manually, but their system can keep trying while you go about your day. They call you once they reach a human. There's nothing magical about it - it's just automating the tedious part of trying to contact the IRS. And trust me, I tried being "patient" for three weeks, but kept getting disconnected after waiting 2+ hours.

I actually used a small local tax preparer last year who has since closed their business. I tried reaching out to them directly but their phone is disconnected. I don't have access to whatever software they used. That would've been the easy solution!

That's unfortunate about your preparer closing shop. In that case, the transcript route others suggested is probably your best bet. For the future, I'd recommend always saving a PDF copy of your complete return somewhere secure like a password-protected cloud storage. I learned that lesson the hard way too. I've had good experiences with the IRS transcript system for basic stuff, but for something specific like Form 5329, you might need to go with one of the other suggestions here to get the full details.

Good question. I've had to reference previous 5329s when dealing with multiple years of early withdrawals. The IRS sometimes gets confused about which tax years penalties have already been paid for.