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 Tax Information and Reporting ~ Report Distribution from Retirement Plan Rolled Directly into an IRA on Form 1099-R

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Retirement Planning

Tax Reporting:

 

Report Distribution from Retirement Plan Rolled Directly into an IRA on Form 1099-R

401k rollover / Direct Rollover 

Will you tell the IRS when I roll over my 401(k) plan?

What happens when you move your retirement from your old employer into an IRA?

 

When you move your employer-sponsored retirement plan from your former employer to a Traditional IRA (using a Direct Rollover through a process that is commonly referred to as a 401(k) Rollover), two important notifications are made as required by the IRS:

  1. The trustee of your old employer-sponsored retirement plan is required to report a direct rollover to an IRA, that is treated as a distribution and a subsequent rollover, on Form 1099-R. 

  2. The successor trustee (for the account where you have your Direct Rollover IRA - where you transferred you old 401(k)) is required to report your rollover contribution on IRS Form 5498. 

 

Place Trade's administrative manager and trustee for your retirement accounts, will provide your Form 1099-R to you directly.

 

To get more information on Form 1099-R, please visit the go to the US Persons & Entities page (located under the Tax Reporting section of our website and specifically look for information about 1099-R - Distributions from IRAs. For complete information please visit www.irs.gov.

 


Tax Reporting

Please note that the information provided herein is for educational purposes only and it should not be used for tax advice. Unless specifically stated to the contrary, any information contained in this FAQ is not intended or written to be used and cannot be used for the purpose of avoiding tax penalties that may be imposed on any taxpayer. Please contact your own tax and/or legal advisor prior to making any tax-related decisions. Place Trade Financial, Inc. does not offer tax advice.

 

      Please Note:  

No Tax Advice Offered:  

Neither Place Trade Financial, Inc., its employees or any associated independent contractors/independent representatives offer tax advice in any form. The information on this website is for discussion and information purposes only. Nothing contained herein should be considered as an offer to buy or sell any security, securities product or service. Nothing herein or any other written or verbal correspondence should be considered as tax advice. 

Place Trade Financial, Inc. does not provide tax advice to full service or online trading clients/accounts, online institutional clients/accounts or any other individual or account at any time.  Please speak with your own personal tax advisor, CPA and/or tax attorney prior to making tax-related decisions.

 

 

Tax FAQs

Tax Information and Reporting ~ US Person or Entity ~ Initial Data & Data Collection

 

 

 

 

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Learn more about retirement planning by visiting some of the links below:

Roth IRA

SEP IRA

SIMPLE IRA

Traditional IRA

Qualified Plans

Rollover IRAs

Find out how Place Trade can help you get the most out of your college planning by visiting some of the links below:


Coverdell ESA

529 College Savings Plans

UGMA/UTMA Accounts