Rollover/Transfer of Retirement Accounts and Form 1099-R

  • If you requested a rollover or transfer of your retirement accounts (IRA, 401k, SIMPLE IRA, SEP IRA, 403b, pension plan, TSP, etc. etc.) into your 401(k) plan you should receive a 1099-R from your former provider. 
  • Usually 1099-R’s begin arriving in early February. 
  • Make sure you review your 1099-R closely and pay special attention to box 7. The rollover should have been reported by your former provider as a non-taxable event. The transfer of retirement monies into a 401(k) Plan should generally not be reported as a taxable distribution. Make sure box 7 is coded with a “G”, meaning your rollover was coded properly. (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). To view a sample Form 1099-R: Sample 1099-R IRS.

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