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97Department of the Treasury Internal Revenue ServiceInstructions for Form 4972 Tax on LumpSum Distributions From Qualified Retirement Plans Section references are to the Internal Revenue Code. General
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Form 4972 is used to report the tax on certain lump-sum distributions from qualified retirement plans.
Individuals who receive a lump-sum distribution from a qualified retirement plan are required to file Form 4972.
You need to provide information about the distribution amount, the tax withheld, and calculate the tax on the distribution using the appropriate tax rate.
The purpose of Form 4972 is to calculate and report the tax owed on lump-sum distributions from qualified retirement plans.
You must report the distribution amount, the tax withheld, and calculate the tax owed based on the distribution using the tax rate schedule provided.
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