No, not any more! The 15% excise tax on excess distributions from IRAs (over $160,000 in any year) and the 15% estate tax on excess retirement accumulations have been repealed. This repeal applies retroactively to January 1, 1997 (that is, excess distributions made after December 31, 1996 and excess accumulations for decedents dying after December 31, 1996 are no longer subject to these tax penalties).