SafeInet
Homepage > Blank IRS 1099-R Template
Article Guide

The IRS 1099-R form is a crucial document for anyone who has received distributions from pensions, annuities, retirement plans, or profit-sharing plans during the tax year. Issued by financial institutions and pension plans, this form provides taxpayers with important information regarding their taxable income related to retirement funds, ensuring transparency in the reporting process. It details the total amount distributed, any federal income tax withheld, and indicates the nature of the distribution—be it a normal distribution, early withdrawal, or a rollover. Not only does it serve as a guide for taxpayers when filing their federal income tax returns, but it also influences financial planning for the future. Individuals must understand the nuances of the form to accurately report their income and avoid potential penalties. As tax season approaches, familiarity with the 1099-R form becomes increasingly important for managing your finances effectively and complying with IRS regulations.

Form Sample

Attention:

Copy A of this form is provided for informational purposes only. Copy A appears in red, similar to the official IRS form. The official printed version of Copy A of this IRS form is scannable, but the online version of it, printed from this website, is not. Do not print and file copy A downloaded from this website; a penalty may be imposed for filing with the IRS information return forms that can’t be scanned. See part O in the current General Instructions for Certain Information Returns, available at www.irs.gov/form1099, for more information about penalties.

Please note that Copy B and other copies of this form, which appear in black, may be downloaded and printed and used to satisfy the requirement to provide the information to the recipient.

To order official IRS information returns, which include a scannable Copy A for filing with the IRS and all other applicable copies of the form, visit www.IRS.gov/orderforms. Click on Employer and Information Returns, and we’ll mail you the forms you request and their instructions, as well as any publications you may order.

Information returns may also be filed electronically using the IRS Filing Information Returns Electronically (FIRE) system (visit www.IRS.gov/FIRE) or the IRS Affordable Care Act Information Returns (AIR) program (visit www.IRS.gov/AIR).

See IRS Publications 1141, 1167, and 1179 for more information about printing these tax forms.

9898

VOID

CORRECTED

PAYER’S name, street address, city or town, state or province,

1

Gross distribution

OMB No. 1545-0119

 

 

Distributions From

country, ZIP or foreign postal code, and phone no.

 

 

 

 

 

 

 

 

 

 

 

 

 

Pensions, Annuities,

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

2020

 

 

Retirement or

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit-Sharing Plans,

 

 

 

 

 

 

 

 

 

2a

Taxable amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IRAs, Insurance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

Form 1099-R

 

 

Contracts, etc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2b Taxable amount

 

 

Total

 

 

Copy A

 

 

 

 

 

 

 

 

 

 

not determined

 

 

distribution

 

 

For

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PAYER’S TIN

 

 

 

 

RECIPIENT’S TIN

 

 

3

Capital gain (included

4 Federal income tax

 

Internal Revenue

 

 

 

 

 

 

 

 

 

 

in box 2a)

 

 

 

 

withheld

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service Center

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

$

 

 

 

 

 

File with Form 1096.

RECIPIENT’S name

 

 

 

 

 

5

Employee contributions/

6 Net unrealized

 

 

For Privacy Act

 

 

 

 

 

 

 

 

 

 

Designated Roth

 

 

appreciation in

 

 

 

 

 

 

 

 

 

 

 

 

contributions or

 

 

employer’s securities

and Paperwork

 

 

 

 

 

 

 

 

 

$

insurance premiums

$

 

 

 

 

 

Reduction Act

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notice, see the

Street address (including apt. no.)

 

 

7

Distribution

 

IRA/

8 Other

 

 

 

2020 General

 

 

 

 

 

 

 

 

 

 

code(s)

 

SEP/

 

 

 

 

 

 

Instructions for

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SIMPLE

$

 

 

 

 

 

Certain

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information

City or town, state or province, country, and ZIP or foreign postal code

9a

Your percentage of total

9b Total employee contributions

Returns.

 

 

 

 

 

 

 

 

 

 

distribution

%

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10 Amount allocable to IRR

 

11 1st year of desig.

 

12 FATCA filing

14

State tax withheld

 

15 State/Payer’s state no.

16 State distribution

within 5 years

 

 

 

Roth contrib.

 

 

requirement

$

 

 

 

 

 

 

 

 

 

 

 

$

$

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

$

Account number (see instructions)

 

 

 

13 Date of

17

Local tax withheld

 

18 Name of locality

19 Local distribution

 

 

 

 

 

 

 

payment

$

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

$

Form 1099-R

Cat. No. 14436Q

 

 

 

 

www.irs.gov/Form1099R

 

 

 

 

Department of the Treasury - Internal Revenue Service

Do Not Cut

or Separate Forms on

This Page

—

Do Not

Cut

or Separate

Forms on This Page

VOID

CORRECTED

PAYER’S name, street address, city or town, state or province,

1

Gross distribution

OMB No. 1545-0119

 

 

Distributions From

country, ZIP or foreign postal code, and phone no.

 

 

 

 

 

 

 

 

Pensions, Annuities,

 

 

 

 

 

 

$

 

 

 

2020

 

 

Retirement or

 

 

 

 

 

 

 

 

 

 

Profit-Sharing Plans,

 

 

 

 

 

 

2a

Taxable amount

 

 

 

 

 

 

 

 

 

 

 

IRAs, Insurance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

Form 1099-R

 

 

Contracts, etc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2b Taxable amount

 

Total

 

Copy 1

 

 

 

 

 

 

 

not determined

 

distribution

 

For

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PAYER’S TIN

 

 

RECIPIENT’S TIN

 

3

Capital gain (included

4 Federal income tax

 

 

 

 

 

State, City,

 

 

 

 

 

 

 

in box 2a)

 

withheld

 

 

 

 

 

 

 

 

 

 

or Local

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

$

 

 

 

Tax Department

 

 

 

 

 

 

 

 

 

 

 

 

 

RECIPIENT’S name

 

 

 

 

 

5

Employee contributions/

6 Net unrealized

 

 

 

 

 

 

 

 

 

Designated Roth

 

appreciation in

 

 

 

 

 

 

 

 

 

contributions or

 

employer’s securities

 

 

 

 

 

 

 

 

insurance premiums

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

$

 

 

 

 

Street address (including apt. no.)

 

 

 

7

Distribution

 

IRA/

8 Other

 

 

 

 

 

 

 

 

 

 

code(s)

 

SEP/

 

 

 

 

 

 

 

 

 

 

 

 

 

SIMPLE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

City or town, state or province, country, and ZIP or foreign postal code

9a

Your percentage of total

9b Total employee contributions

 

 

 

 

 

 

 

 

distribution

%

$

 

 

 

 

10 Amount allocable to IRR

11 1st year of desig.

 

12 FATCA filing

14

State tax withheld

 

15 State/Payer’s state no.

16 State distribution

within 5 years

 

 

Roth contrib.

 

requirement

$

 

 

 

 

 

 

 

$

$

 

 

 

 

 

$

 

 

 

 

 

 

 

$

Account number (see instructions)

 

 

13 Date of

17

Local tax withheld

 

18 Name of locality

 

19 Local distribution

 

 

 

 

 

payment

$

 

 

 

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

 

 

 

$

Form 1099-R

 

 

www.irs.gov/Form1099R

 

 

 

 

Department of the Treasury - Internal Revenue Service

CORRECTED (if checked)

PAYER’S name, street address, city or town, state or province,

1 Gross distribution

OMB No. 1545-0119

 

 

Distributions From

country, ZIP or foreign postal code, and phone no.

 

 

 

 

 

 

 

Pensions, Annuities,

 

 

 

 

 

$

 

 

2020

 

 

Retirement or

 

 

 

 

 

 

 

 

Profit-Sharing Plans,

 

 

 

 

 

2a Taxable amount

 

 

 

 

 

 

 

 

 

 

IRAs, Insurance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

Form 1099-R

 

 

Contracts, etc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2b Taxable amount

 

Total

 

Copy B

 

 

 

 

 

not determined

 

distribution

 

Report this

 

 

 

 

 

 

 

 

 

 

 

 

PAYER’S TIN

 

RECIPIENT’S TIN

 

3 Capital gain (included

4 Federal income tax

 

 

 

 

income on your

 

 

 

 

 

in box 2a)

 

withheld

 

 

 

 

 

 

 

 

federal tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

$

 

 

 

return. If this

 

 

 

 

 

 

 

 

 

 

form shows

RECIPIENT’S name

 

 

 

 

5 Employee contributions/

6 Net unrealized

 

federal income

 

 

 

 

 

Designated Roth

 

appreciation in

 

tax withheld in

 

 

 

 

 

contributions or

 

employer’s securities

box 4, attach

 

 

 

 

 

insurance premiums

 

 

 

 

 

 

 

 

 

 

 

 

 

this copy to

 

 

 

 

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

your return.

Street address (including apt. no.)

 

7 Distribution

 

IRA/

8 Other

 

 

 

 

 

 

 

 

 

 

 

 

 

code(s)

 

SEP/

 

 

 

 

 

 

 

 

 

 

 

SIMPLE

 

 

 

 

This information is

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

 

 

 

 

 

 

 

 

 

being furnished to

City or town, state or province, country, and ZIP or foreign postal code

9a Your percentage of total

9b Total employee contributions

the IRS.

 

 

 

 

 

distribution

 

$

 

 

 

 

 

 

 

 

%

 

 

 

 

10 Amount allocable to IRR

11 1st year of desig.

 

12 FATCA filing

14 State tax withheld

 

15 State/Payer’s state no.

16 State distribution

within 5 years

 

Roth contrib.

 

requirement

$

 

 

 

 

 

 

$

$

 

 

 

 

$

 

 

 

 

 

 

$

Account number (see instructions)

 

 

13 Date of

17 Local tax withheld

 

18 Name of locality

 

19 Local distribution

 

 

 

 

payment

$

 

 

 

 

 

 

$

 

 

 

 

 

$

 

 

 

 

 

 

$

Form 1099-R

 

www.irs.gov/Form1099R

 

 

 

Department of the Treasury - Internal Revenue Service

Instructions for Recipient

Generally, distributions from retirement plans (IRAs, qualified plans, section 403(b) plans, and governmental section 457(b) plans), insurance contracts, etc., are reported to recipients on Form 1099-R. Qualified plans and section 403(b) plans. If your annuity starting date is after 1997, you must use the simplified method to figure your taxable amount if your payer didn’t show the taxable amount in box 2a. See the instructions for your tax return.

IRAs. For distributions from a traditional individual retirement arrangement (IRA), simplified employee pension (SEP), or savings incentive match plan for employees (SIMPLE), generally the payer isn’t required to compute the taxable amount. See the instructions for your tax return to determine the taxable amount. If you’re at least age 70½ by the end of 2019 (age 72 by the end of later years), you must take minimum distributions from your IRA (other than a Roth IRA). If you don’t, you’re subject to a 50% excise tax on the amount that should’ve been distributed. See Pub. 590-A and Pub. 590-B for more information on IRAs.

Roth IRAs. For distributions from a Roth IRA, generally the payer isn’t required to compute the taxable amount. You must compute any taxable amount on Form 8606. An amount shown in box 2a may be taxable earnings on an excess contribution.

Loans treated as distributions. If you borrow money from a qualified plan, section 403(b) plan, or governmental section 457(b) plan, you may have to treat the loan as a distribution and include all or part of the amount borrowed in your income. There are exceptions to this rule. If your loan is taxable, code L will be shown in box 7. See Pub. 575. Recipient’s taxpayer identification number (TIN). For your protection, this form may show only the last four digits of your TIN (SSN, ITIN, ATIN, or EIN). However, the payer has reported your complete TIN to the IRS.

Account number. May show an account, policy, or other unique number the payer assigned to distinguish your account.

Box 1. Shows the total amount you received this year. The amount may have been a direct rollover, a transfer or conversion to a Roth IRA, a recharacterized IRA contribution; or you may have received it

as periodic payments, nonperiodic payments, or a total distribution. Report the amount on Form 1040, 1040-SR, or 1040-NR on the line for “IRAs, pensions, and annuities” (or the line for “Taxable amount”) and on Form 8606, as applicable. However, if this is a lump-sum distribution, see Form 4972. If you haven’t reached minimum retirement age, report your disability payments on the line for “Wages, salaries, tips, etc.” on your tax return. Also report on that line permissible withdrawals from eligible automatic contribution arrangements and corrective distributions of excess deferrals, excess contributions, or excess aggregate contributions except if the distribution is of designated Roth contributions or your after-tax contributions or if you’re self-employed.

If a life insurance, annuity, qualified long-term care, or endowment contract was transferred tax free to another trustee or contract issuer, an amount will be shown in this box and code 6 will be shown in box

7.If a charge or payment was made against the cash value of an annuity contract or the cash surrender value of a life insurance contract for the purchase of qualified long-term care insurance, an amount will be shown in this box and code W will be shown in box 7. You need not report these amounts on your tax return. If code C is shown in box 7, the amount shown in box 1 is a receipt of reportable death benefits that is taxable in part.

Box 2a. This part of the distribution is generally taxable. If there is no entry in this box, the payer may not have all the facts needed to figure the taxable amount. In that case, the first box in box 2b should be checked. You may want to get one of the free publications from the IRS to help you figure the taxable amount. See Additional information on the back of Copy 2. For an IRA distribution, see IRAs and Roth IRAs, earlier. For a direct rollover, other than from a qualified plan, sec. 403(b) plan, or governmental sec. 457(b) plan to a designated Roth account in the same plan or to a Roth IRA, zero should be shown and you must enter zero (-0-) on the “Taxable amount” line of your tax return. If you roll over a distribution (other than a distribution from a designated Roth account) from a qualified plan, sec. 403(b) plan, or governmental sec. 457(b) plan to a designated Roth account in the same plan or to a Roth IRA,

(Continued on the back of Copy C)

CORRECTED (if checked)

PAYER’S name, street address, city or town, state or province,

1

Gross distribution

 

OMB No. 1545-0119

 

 

Distributions From

country, ZIP or foreign postal code, and phone no.

 

 

 

 

 

 

 

 

 

Pensions, Annuities,

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

Retirement or

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit-Sharing Plans,

 

 

 

 

 

 

2a

Taxable amount

 

2020

 

 

 

 

 

 

 

 

 

 

 

IRAs, Insurance

 

 

 

 

 

 

$

 

 

 

 

Form 1099-R

 

 

 

Contracts, etc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2b Taxable amount

 

 

Total

 

 

Copy C

 

 

 

 

 

 

 

not determined

 

 

distribution

 

 

For Recipient’s

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PAYER’S TIN

 

 

RECIPIENT’S TIN

 

3

Capital gain (included

 

4 Federal income tax

 

 

 

 

 

 

 

 

Records

 

 

 

 

 

 

 

in box 2a)

 

 

withheld

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

$

 

 

 

 

 

RECIPIENT’S name

 

 

 

 

5

Employee contributions/

 

6 Net unrealized

 

 

 

 

 

 

 

 

 

 

Designated Roth

 

 

appreciation in

 

 

 

 

 

 

 

 

 

 

contributions or

 

 

employer’s securities

 

 

 

 

 

 

 

 

 

insurance premiums

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

$

 

 

 

 

 

Street address (including apt. no.)

 

7

Distribution

 

IRA/

 

8 Other

 

 

 

 

 

 

 

 

 

 

 

code(s)

 

SEP/

 

 

 

 

 

 

This information is

 

 

 

 

 

 

 

 

SIMPLE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

being furnished to

City or town, state or province, country, and ZIP or foreign postal code

9a

Your percentage of total

 

9b Total employee contributions

 

the IRS.

 

 

 

 

 

 

 

distribution

%

$

 

 

 

 

 

10 Amount allocable to IRR

11 1st year of desig.

 

12 FATCA filing

14

State tax withheld

 

 

15 State/Payer’s state no.

 

16 State distribution

within 5 years

 

 

Roth contrib.

 

requirement

$

 

 

 

 

 

 

 

 

$

$

 

 

 

 

 

$

 

 

 

 

 

 

 

 

$

Account number (see instructions)

 

13 Date of

17

Local tax withheld

 

 

18 Name of locality

 

 

19 Local distribution

 

 

 

 

 

payment

$

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

$

Form 1099-R

(keep for your records)

www.irs.gov/Form1099R

 

 

Department of the Treasury - Internal Revenue Service

Instructions for Recipient (continued)

you must include on the “Taxable amount” line of your tax return the amount shown in this box plus the amount in box 6, if any.

If this is a total distribution from a qualified plan and you were born before January 2, 1936 (or you’re the beneficiary of someone born before January 2, 1936), you may be eligible for the 10-year tax option. See the Form 4972 instructions for more information.

If you’re an eligible retired public safety officer who elected to exclude from income distributions from your eligible plan used to pay certain insurance premiums, the amount shown in box 2a hasn’t been reduced by the exclusion amount. See the instructions for your tax return for more information.

Box 2b. If the first box is checked, the payer was unable to determine the taxable amount and box 2a should be blank, except for an IRA. It’s your responsibility to determine the taxable amount. If the second box is checked, the distribution was a total distribution that closed out your account.

Box 3. If you received a lump-sum distribution from a qualified plan and were born before January 2, 1936 (or you’re the beneficiary of someone born before January 2, 1936), you may be able to elect to treat this amount as a capital gain on Form 4972 (not on Schedule D (Forms 1040 and 1040-SR)). See the Form 4972 instructions. For a charitable gift annuity, report as a long-term capital gain as explained in the Instructions for Form 8949.

Box 4. Shows federal income tax withheld. Include this amount on your income tax return as tax withheld, and if box 4 shows an amount (other than zero), attach Copy B to your return. Generally, if you receive payments that aren’t eligible rollover distributions, you can change your withholding or elect not to have income tax withheld by giving the payer Form W-4P.

Box 5. Generally, this shows the employee’s investment in the contract (after-tax contributions), if any, recovered tax free this year; the portion that’s your basis in a designated Roth account; the part of premiums paid on commercial annuities or insurance contracts recovered tax free; the nontaxable part of a charitable gift annuity; or the investment in a life insurance contract reportable under section 6050Y. This box doesn’t show any IRA contributions. If the amount shown is your basis in a designated Roth account, the year you first made contributions to that account may be entered in box 11.

Box 6. If you received a lump-sum distribution from a qualified plan that includes securities of the employer’s company, the net unrealized appreciation (NUA) (any increase in value of such securities while in the trust) is taxed only when you sell the securities unless you choose to include it in your gross income this year. See Pub. 575 and

Form 4972. If you roll over the distribution to a designated Roth account in the same plan or to a Roth IRA, see the instructions for box 2a. For a direct rollover to a designated Roth account in the same plan or to a Roth IRA, the NUA is included in box 2a. If you didn’t receive a lump-sum distribution, the amount shown is the NUA attributable to employee contributions, which isn’t taxed until you sell the securities. Box 7. The following codes identify the distribution you received. For more information on these distributions, see the instructions for your tax return. Also, certain distributions may be subject to an additional 10% tax. See the Instructions for Form 5329.

1—Early distribution, no known exception (in most cases, under age 59½).

2—Early distribution, exception applies (under age 59½). 3—Disability.

4—Death.

5—Prohibited transaction.

6—Section 1035 exchange (a tax-free exchange of life insurance, annuity, qualified long-term care insurance, or endowment contracts).

7—Normal distribution.

8—Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2020.

9—Cost of current life insurance protection.

A—May be eligible for 10-year tax option (see Form 4972). B—Designated Roth account distribution.

Note: If code B is in box 7 and an amount is reported in box 11, see the Instructions for Form 5329.

C—Reportable death benefits under section 6050Y.

D—Annuity payments from nonqualified annuities that may be subject to tax under section 1411.

E—Distributions under Employee Plans Compliance Resolution System (EPCRS).

(Continued on the back of Copy 2)

CORRECTED (if checked)

PAYER’S name, street address, city or town, state or province,

1

Gross distribution

 

OMB No. 1545-0119

 

 

Distributions From

country, ZIP or foreign postal code, and phone no.

 

 

 

 

 

 

 

 

 

Pensions, Annuities,

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

Retirement or

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit-Sharing Plans,

 

 

 

 

 

 

2a

Taxable amount

 

2020

 

 

 

 

 

 

 

 

 

 

 

IRAs, Insurance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

Form 1099-R

 

 

 

Contracts, etc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2b Taxable amount

 

 

Total

 

 

Copy 2

 

 

 

 

 

 

 

not determined

 

 

distribution

 

 

File this copy

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PAYER’S TIN

 

 

RECIPIENT’S TIN

 

3

Capital gain (included

 

4 Federal income tax

 

 

 

 

 

 

 

 

with your state,

 

 

 

 

 

 

 

in box 2a)

 

 

withheld

 

 

 

 

 

 

 

 

 

 

 

 

 

city, or local

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

$

 

 

 

 

income tax

 

 

 

 

 

 

 

 

 

 

 

 

 

return, when

RECIPIENT’S name

 

 

 

 

 

5

Employee contributions/

 

6 Net unrealized

 

 

required.

 

 

 

 

 

 

 

Designated Roth

 

 

appreciation in

 

 

 

 

 

 

 

 

 

 

contributions or

 

 

employer’s securities

 

 

 

 

 

 

 

 

 

insurance premiums

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

$

 

 

 

 

 

Street address (including apt. no.)

 

 

 

7

Distribution

 

IRA/

 

8 Other

 

 

 

 

 

 

 

 

 

 

 

code(s)

 

SEP/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SIMPLE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

 

City or town, state or province, country, and ZIP or foreign postal code

9a

Your percentage of total

 

9b Total employee contributions

 

 

 

 

 

 

 

 

 

distribution

%

$

 

 

 

 

 

10 Amount allocable to IRR

11 1st year of desig.

 

12 FATCA filing

14

State tax withheld

 

 

15 State/Payer’s state no.

 

16 State distribution

within 5 years

 

 

Roth contrib.

 

requirement

$

 

 

 

 

 

 

 

 

$

$

 

 

 

 

 

$

 

 

 

 

 

 

 

 

$

Account number (see instructions)

 

 

13 Date of

17

Local tax withheld

 

 

18 Name of locality

 

 

19 Local distribution

 

 

 

 

 

payment

$

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

$

Form 1099-R

 

 

www.irs.gov/Form1099R

 

 

 

 

 

Department of the Treasury - Internal Revenue Service

Instructions for Recipient (continued)

F—Charitable gift annuity.

G—Direct rollover of a distribution to a qualified plan, a section 403(b) plan, a governmental section 457(b) plan, or an IRA.

H—Direct rollover of a designated Roth account distribution to a Roth IRA.

J—Early distribution from a Roth IRA, no known exception (in most cases, under age 59½).

K—Distribution of traditional IRA assets not having a readily available FMV.

L—Loans treated as distributions. M—Qualified plan loan offset.

N—Recharacterized IRA contribution made for 2020 and recharacterized in 2020.

P—Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2019.

Q—Qualified distribution from a Roth IRA.

R—Recharacterized IRA contribution made for 2019 and recharacterized in 2020.

S—Early distribution from a SIMPLE IRA in first 2 years, no known exception (under age 59½).

T—Roth IRA distribution, exception applies.

U—Dividend distribution from ESOP under section 404(k). Note: This distribution isn’t eligible for rollover.

W—Charges or payments for purchasing qualified long-term care insurance contracts under combined arrangements.

If the IRA/SEP/SIMPLE box is checked, you’ve received a traditional IRA, SEP, or SIMPLE distribution.

Box 8. If you received an annuity contract as part of a distribution, the value of the contract is shown. It isn’t taxable when you receive it and shouldn’t be included in boxes 1 and 2a. When you receive periodic payments from the annuity contract, they’re taxable at that time. If the distribution is made to more than one person, the percentage of the annuity contract distributed to you is also shown. You’ll need this information if you use the 10-year tax option (Form 4972). If charges

were made for qualified long-term care insurance contracts under combined arrangements, the amount of the reduction in the investment (but not below zero) in the annuity or life insurance contract is reported here.

Box 9a. If a total distribution was made to more than one person, the percentage you received is shown.

Box 9b. For a life annuity from a qualified plan or from a section 403(b) plan (with after-tax contributions), an amount may be shown for the employee’s total investment in the contract. It is used to compute the taxable part of the distribution. See Pub. 575.

Box 10. If an amount is reported in this box, see the Instructions for Form 5329 and Pub. 575.

Box 11. The first year you made a contribution to the designated Roth account reported on this form is shown in this box.

Box 12. If box 12 is checked, the payer is reporting on this Form 1099 to satisfy its chapter 4 account reporting requirement under FATCA. You may also have a filing requirement. See the Instructions for Form 8938.

Box 13. Shows the date of payment for reportable death benefits under section 6050Y.

Boxes 14–19. If state or local income tax was withheld from the distribution, boxes 16 and 19 may show the part of the distribution subject to state and/or local tax.

Additional information. You may want to see:

Form W-4P, Form 4972, Form 5329, Form 8606

Pub. 525, Taxable and Nontaxable Income Pub. 560, Retirement Plans for Small Business Pub. 571, Tax-Sheltered Annuity Plans

Pub. 575, Pension and Annuity Income Pub. 590-A, Contributions to IRAs Pub. 590-B, Distributions from IRAs

Pub. 721, U.S. Civil Service Retirement Benefits Pub. 939, General Rule for Pensions and Annuities Pub. 969, HSAs and Other Tax-Favored Health Plans

VOID

CORRECTED

PAYER’S name, street address, city or town, state or province,

1

Gross distribution

 

OMB No. 1545-0119

 

 

Distributions From

country, ZIP or foreign postal code, and phone no.

 

 

 

 

 

 

 

 

 

Pensions, Annuities,

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

Retirement or

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit-Sharing Plans,

 

 

 

 

 

 

2a

Taxable amount

 

2020

 

 

 

 

 

 

 

 

 

 

 

IRAs, Insurance

 

 

 

 

 

 

$

 

 

 

 

Form 1099-R

 

 

 

Contracts, etc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2b Taxable amount

 

 

Total

 

 

Copy D

 

 

 

 

 

 

 

not determined

 

 

distribution

 

 

For Payer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PAYER’S TIN

 

 

RECIPIENT’S TIN

 

3

Capital gain (included

 

4 Federal income tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in box 2a)

 

 

withheld

 

 

 

 

 

 

 

 

 

$

 

 

 

$

 

 

 

 

 

RECIPIENT’S name

 

 

 

 

 

5

Employee contributions/

 

6 Net unrealized

 

 

For Privacy Act

 

 

 

 

 

 

 

Designated Roth

 

 

appreciation in

 

 

 

 

 

 

 

 

 

contributions or

 

 

employer’s securities

 

and Paperwork

 

 

 

 

 

 

 

insurance premiums

 

 

 

 

 

 

Reduction Act

 

 

 

 

 

 

$

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notice, see the

Street address (including apt. no.)

 

 

 

7

Distribution

 

IRA/

 

8 Other

 

 

 

2020 General

 

 

 

 

 

 

 

code(s)

 

SEP/

 

 

 

 

 

 

Instructions for

 

 

 

 

 

 

 

 

 

SIMPLE

$

 

 

 

 

Certain

 

 

 

 

 

 

 

 

 

 

 

 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information

City or town, state or province, country, and ZIP or foreign postal code

9a

Your percentage of total

 

9b Total employee contributions

 

 

 

Returns.

 

 

 

 

 

 

 

distribution

%

$

 

 

 

 

 

10 Amount allocable to IRR

11 1st year of desig.

 

12 FATCA filing

14

State tax withheld

 

 

15 State/Payer’s state no.

 

16 State distribution

within 5 years

 

 

Roth contrib.

 

requirement

$

 

 

 

 

 

 

 

 

$

$

 

 

 

 

 

$

 

 

 

 

 

 

 

 

$

Account number (see instructions)

 

 

13 Date of

17

Local tax withheld

 

 

18 Name of locality

 

 

19 Local distribution

 

 

 

 

 

payment

$

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

$

Form 1099-R

 

 

www.irs.gov/Form1099R

 

 

 

 

 

Department of the Treasury - Internal Revenue Service
⇩ PDF

Document Specifications

Fact Name Description
Purpose The IRS 1099-R form is used to report distributions from pensions, annuities, retirement plans, IRAs, and other similar accounts.
Filing Requirement Financial institutions must issue a 1099-R if the total distribution amount is $10 or more during the tax year.
Recipient Reporting Individuals receiving a 1099-R must report this income on their federal tax return, as it's taxable unless certain conditions apply.
State-Specific Forms Some states require additional forms for reporting retirement distributions. For example, California uses the Form 1099-R (CA) under California Revenue and Taxation Code.
Distribution Codes 1099-R forms include various distribution codes that indicate the type of distribution and any tax implications, such as early withdrawal penalties.
Deadline for Issuance Financial institutions must send out 1099-R forms to recipients by January 31 of the year following the distribution.
Corrections If an error is found after filing, a corrected 1099-R can be issued. This ensures accurate reporting to both the recipient and the IRS.

Steps to Filling Out IRS 1099-R

Completing the IRS 1099-R form requires attention to detail. Accurate reporting of distribution amounts and specific recipient information is essential for compliance and to avoid complications during tax filing. After filling out the form, it will need to be submitted to the IRS and a copy provided to the recipients of the distributions.

  1. Obtain the IRS 1099-R form. You can download it from the IRS website or request a hard copy.
  2. In the "Payer" section, enter your name, address, and taxpayer identification number (TIN).
  3. In the "Recipient" section, provide the recipient's name, address, and TIN, ensuring all information is accurate.
  4. In the box labeled "Gross distribution," fill in the total amount distributed to the recipient during the tax year.
  5. If applicable, enter the taxable amount in the "Taxable amount" box.
  6. Indicate the distribution code that best describes the type of distribution in the appropriate box, based on IRS guidelines.
  7. If any federal income tax was withheld, record that amount in the "Federal income tax withheld" box.
  8. Review all entries for accuracy to ensure compliance with IRS regulations.
  9. Make copies of the completed form for your records and for distribution to the recipient.
  10. Submit the completed form to the IRS by the specified deadline.

More About IRS 1099-R

What is the IRS 1099-R form?

The IRS 1099-R form is used to report distributions from retirement plans, pensions, and annuities. If you received money from your IRA, 401(k), or other retirement accounts, this form is essential. It informs both you and the IRS of the amount you received, as well as any taxes that were withheld from your distribution.

Who receives a 1099-R form?

If you took a distribution from a retirement plan, you should expect to receive a 1099-R. This includes amounts taken as lump sums, periodic payments, or even rollovers to different retirement accounts. The plan administrator or financial institution will send this form, ensuring you're aware of any taxable income from your retirement savings.

When is the 1099-R form issued?

The 1099-R form is typically issued by January 31 of each year. This deadline ensures that you have enough time to include this information in your tax return, which is due by April 15. Keep an eye on your mailbox or email for this crucial document during tax season!

What information is found on the 1099-R form?

The 1099-R includes several important details: the total amount distributed, any taxes withheld, the type of distribution, and your personal information. Additionally, it specifies the distribution code, which indicates the nature of your withdrawal, such as early distributions, rollovers, or normal distributions.

Do I need to report 1099-R income on my tax return?

Yes, income reported on your 1099-R form must be included on your tax return. The IRS uses this form to track income and ensure proper taxation. Even if you rolled your funds over into another retirement account and did not cash out, it's still critical to report the rollover correctly on your tax return. Failing to report this information might lead to penalties.

What should I do if I don’t receive a 1099-R form?

If you believe you should have received a 1099-R but have not, the first step is to contact the financial institution or plan administrator that manages your retirement account. They may have sent it to the wrong address or it could be lost in the mail. If you still do not receive it, you can reference your account statements to report the income accurately on your tax return.

What are the penalties for inaccuracies on a 1099-R form?

Inaccuracies on the 1099-R form can lead to penalties and interest charges from the IRS. If you report less income than what is noted on the 1099-R, you may face an underpayment penalty. Additionally, providing incorrect information may force the IRS to investigate further. Always double-check the details on the form and ensure your tax return aligns with what is reported!

Common mistakes

  1. Incorrect Recipient Information: One of the most common errors occurs when individuals enter incorrect names or taxpayer identification numbers for the recipients. Make sure to double-check the spelling of names and ensure that Social Security numbers are accurate.

  2. Wrong Distribution Code: The distribution code is crucial for helping the IRS understand the nature of the distribution. Using the wrong code can lead to misinterpretation of the tax liability, which could cause issues during tax filing.

  3. Failure to Report All Distributions: Individuals sometimes overlook reporting all distributions made in the tax year. If any distributions fall into the reporting category, they must be included. Missing a significant amount can raise red flags with the IRS.

  4. Not Signing or Dating the Form: Before submitting the 1099-R form, it’s important to sign and date it. Skipping this step may result in the form being rejected or delayed, leading to unnecessary complications in processing.

Documents used along the form

When dealing with retirement distributions, the IRS 1099-R form often comes into play. However, it’s essential to understand that this form is just one piece of the puzzle. Other forms and documents can help clarify tax situations and ensure compliance with IRS requirements. Here are five key documents frequently used alongside the 1099-R.

  • IRS Form 1040: This is the standard individual income tax return form. Taxpayers report their total income, including amounts from 1099-R, and calculate their tax obligation.
  • IRS Form 5329: If you had early distributions or owe additional tax on retirement accounts, this form helps report those details. It’s important for avoiding penalties associated with incorrect withdrawals.
  • IRS Form W-4P: This form allows individuals to request federal income tax withholding on pensions and annuities. If you receive a distribution, it helps ensure the right amount is withheld to avoid owing taxes later.
  • Retirement Plan Statements: These documents provide a summary of your retirement accounts, including contributions, gains, and distributions. They are useful for verifying the amounts reported on the 1099-R.
  • State Tax Forms: Many states have their own forms for reporting retirement income. It's essential to check state-specific requirements, as they may differ from federal rules.

These forms and documents play a vital role in managing retirement income and ensuring proper tax reporting. When preparing your taxes, it’s best to gather all relevant materials to make the process smooth and accurate.

Similar forms

The IRS 1099-MISC form shares similarities with the 1099-R, as both are used to report income to taxpayers. While the 1099-R focuses specifically on distributions from pensions, annuities, and other retirement plans, the 1099-MISC deals with miscellaneous income that may not fall under wages or salary. For instance, payments made to independent contractors or rents received are reported here. Like the 1099-R, the sender must provide copies to both the recipient and the IRS, ensuring accurate reporting of income for taxation purposes.

Another document that resembles the 1099-R is the 1099-DIV form, which reports dividend payments. While the 1099-R is concerned with retirement distributions, the 1099-DIV is tailored to inform taxpayers about dividends earned from stocks and mutual funds. This form also includes information about capital gains distributions. Both forms are issued by financial institutions to assist taxpayers in reporting income that is not subject to withholding taxes, helping ensure compliance with tax regulations.

The 1099-INT form is also akin to the 1099-R, but it focuses on interest income. If you earn interest from banks or other financial institutions, you will receive the 1099-INT form. Much like the 1099-R, it is essential for taxpayers to accurately report this income on their tax returns. Neither form takes withholding into account, but each serves the important purpose of documenting potentially taxable income in order to ensure that taxpayers report everything required by the IRS.

Another relevant form is the 1099-G, which is used to report certain government payments, including unemployment compensation and state tax refunds. Like the 1099-R, the 1099-G must be sent to both the recipient and the IRS, as it impacts an individual’s taxable income. It ensures that recipients are aware of income they may need to include on their tax returns. Both forms act as essential tools in the IRS’s efforts to clarify and simplify income reporting for taxpayers.

Lastly, the 1099-C form should be noted for its role in tax documentation. It reports cancellation of debt, which can also be considered income. Should a lender forgive a debt, the 1099-C reports this as taxable income, just as the 1099-R does for retirement distributions. Taxpayers must take care with both forms, as they impact an individual’s overall tax liability. Understanding these connections can help taxpayers navigate various income reporting requirements effectively.

Dos and Don'ts

When filling out the IRS 1099-R form, it's important to be careful and thorough. Here are some dos and don'ts to keep in mind:

  • Do ensure all personal information is accurate, including names, addresses, and taxpayer identification numbers.
  • Don't forget to use the correct year for which you are reporting distributions.
  • Do report all distributions received during the tax year, even if they are not taxable.
  • Don't leave any boxes blank; complete all required fields.
  • Do double-check the amounts entered to avoid errors.
  • Don't ignore instructions specific to your situation; read them carefully.
  • Do file the form on time to avoid penalties and interest charges.

Following these guidelines can help ensure that you successfully complete the IRS 1099-R form.

Misconceptions

The IRS 1099-R form plays a crucial role in reporting distributions from pensions, retirement plans, and other similar accounts. However, several misconceptions about this form can lead to confusion. Here are nine common misunderstandings clarified for your benefit:

  1. All distributions are reported on the 1099-R. Not all income from retirement accounts, such as rollovers to another retirement account, is reported on this form. Only taxable distributions qualify.
  2. The 1099-R form is only for retirees. This is not true. Anyone receiving distributions from retirement accounts, regardless of age, may receive a 1099-R.
  3. The 1099-R is optional for the payer. In reality, payers are legally required to issue a 1099-R for any distributions made, if the amount is $10 or more.
  4. Receiving a 1099-R guarantees you have a taxable event. While many distributions are taxable, some may not be. For instance, a qualified rollover is not taxable.
  5. You only get one 1099-R per year. Not necessarily. If you have multiple retirement accounts or receive different types of distributions, you could receive multiple 1099-R forms.
  6. The amounts reported on 1099-R are always accurate. Mistakes can and do happen. It is essential to verify the information against your records.
  7. You can ignore a 1099-R if you don’t think it’s relevant. Ignoring this form can lead to issues with tax compliance. Diligently report all income to prevent penalties.
  8. The 1099-R is the only form to report retirement income. This is misleading. Depending on your situation, you might also receive a W-2, 1099-NEC, or other forms related to different income types.
  9. You must report the 1099-R income in the year it was received. Generally, this is true. However, if you are considering a rollover, the timing may differ, influencing your reporting obligations.

Understanding these misconceptions can make the process of filing taxes smoother and less stressful. Everyone should strive to keep their financial matters clear and accurate by understanding the forms involved.

Key takeaways

Filling out the IRS 1099-R form can be straightforward if you understand its key points. Here are some essential takeaways:

  • The 1099-R form is used to report distributions from pensions, annuities, retirement plans, and IRAs.
  • Provide accurate information. This includes your name, address, and taxpayer identification number, along with the recipient's details.
  • Box 1 shows the total distribution amount, while Box 2a reports the taxable amount.
  • Check Box 7 for the distribution code, which indicates the type of distribution—this is crucial for proper tax reporting.
  • Be aware of filing deadlines. The form must be sent to the recipient by January 31 and submitted to the IRS by February 28 (or March 31 if filed electronically).
  • Use separate forms for each recipient to avoid confusion and ensure accurate reporting.
  • Retain a copy for your records. This will help if questions arise regarding the distribution in the future.
  • If you make a mistake on a 1099-R, correct it promptly by filing a corrected form.
  • Familiarize yourself with any state tax implications. Some states require a separate reporting form for pension distributions.

By following these guidelines, you can navigate the 1099-R form with greater confidence.