Distributions From Pensions, Annuities, Retirement or Profit-sharing Plans, IRAs or Insurance Contracts
Why we send you this form:
We must report:
- Direct rollovers (from one retirement account to another)
- Full or partial distributions (payouts)
- Conversions from retirement plans
- IRA recharacterizations (converting to a Roth IRA then back to a traditional IRA within the same year)
You must include distribution information on your tax return.
Also reported on this form are:
- Federal income tax withheld from your distributions. (See box 4.)
- The fair market value of your account as of 12/31
If you completed a direct rollover from one retirement account to another, you will need to report the information from this form along with information from your Form 5498.
We are required to mail Form 1099-R by January 31st.
Not on this form:
If you moved a retirement plan directly from one financial institution to another (trustee-to-trustee transfer), that distribution will not be reported here because no taxes or penalties should apply.
Distribution Codes, Box 7 of Form 1099-R:
This box identifies the type of distribution you received. For example, Code G identifies distributions due to a direct rollover of a distribution (other than a designated Roth account distribution) to a qualified plan, a section 403(b) plan, a governmental section 457(b) plan, or an IRA. You should consult your tax advisor on the tax treatment of your distribution.
You may visit the instructions for Form 1099-R at www.irs.gov for the complete list of distribution codes.
You may also need to file Form 8606 if:
- You made nondeductible contributions to a Traditional IRA
- You received distributions from a Traditional IRA, SEP IRA or SIMPLE IRA and you have ever made nondeductible contributions to a Traditional IRA
- You converted part or all of the assets in a Traditional IRA, SEP IRA or SIMPLE IRA to a Roth IRA (even if you later recharacterized the conversion)
- You received distributions form a Roth IRA
- You recharacterized a Roth IRA contribution as a Traditional IRA contribution, or vice versa
Certain transactions may require you to file IRS Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and other tax-favored accounts.
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.
Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc.
225 Liberty Street, New York, NY 10281-1008