Form 1099-R

NOTE: 2016 1099-Rs will be available for download by January 31, 2017. If you do not have an online account, you receive your documents by U.S. mail. Register for an online account now.

Distributions From Pensions, Annuities, Retirement or Profit-sharing Plans, IRAs or Insurance Contracts

Why we send you this form:

We must report to you information regarding:

  • 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).
  • Federal income tax withheld from your distributions, if any. (See box 4).

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.

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.
  • Contribution information. This is reported on Form 5498 instead.
  • Distributions to most foreign shareholders. See Form 1042 for more information.

You may also receive:

  • Form 5498 – If you completed a direct rollover from one retirement account to another.

Form 5498

IRA Contribution Information

Why we send you this form:

We must report your annual contributions to a Traditional IRA, Roth IRA, SIMPLEIRA, SEPIRA or SARSEP account.

Also reported on an IRA Contribution Form are:

  • Rollover contributions.
  • Roth IRA conversion amounts.
  • Recharacterized contributions.
  • The fair market value of the account as of yearend 12/31.

Not on this form:

  • Full or partial distributions, including a rollover, from retirement plans.
  • Any federal income tax withheld from your rollover distributions.
  • Required Minimum Distribution (RMD) amounts, you will receive a separate letter mailed in the month of January if you are eligible to receive one.

You may not receive this form if you:

  • Made no contributions to your IRA. Instead your yearend statement serves as a substitute Form 5498 to report your fair market value as of year-end December 31.

You may also receive:

  • Form 1099-R – If you completed a rollover.