Code 162: failure to file penalty restriction deletion.
From IRS Document 6209, the IRS's processing codes manual.
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Document 6209 says
Used on individual (IMF) accounts.
Failure to File Penalty Restriction Deletion
The full Document 6209 entry, as printed
I/B Failure to File Penalty Restriction Deletion 47, 54 Removes restriction on computation of Failure to File (FTF) Penalty on previously posted TC 160 or TC 161. Causes recomputation and allows normal computation of FTF Penalty.
After code 162
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Questions people ask
What does code 162 mean on my IRS transcript?
Document 6209 calls it "Failure to File Penalty Restriction Deletion".
Sources
Checked against these sources on October 30, 2026.