I had an old Fidelity IRA that I did a direct transfer to another company last fall. Haven't received 1099R in mail yet, and when I log onto my account it says there are no tax forms for me for 2018. Is it optional to report if it would be code G?
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A trustee-to-trustee transfer with no payment or distribution to you, that includes a trustee to trustee transfer from one IRA to another IRA or from one 403b plan to another 403b plan, is "generally" not reported on Form 1099-R. Best to call them to verify thats the case. -
I always thought they all needed to be reported. Reading 1099R instructions they talk about reporting with code G if it's from an employer plan that goes to an IRA. Since mine was a traditional IRA kept as a traditional, i guess it does make sense that it wouldn't be reported as the only thing that changed was the company holding it.Comment
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From the 1099-R Instructions:
Generally, do not report a transfer between trustees or issuers that involves no payment or distribution of funds to the participant, including a trustee-to-trustee transfer from one IRA to another IRA, valid transfers from one section 403(b) plan in accordance with paragraphs 1 through 3 of Regulations section 1.403(b)-10(b), or for the purchase of permissive service credit under section 403(b)(13) or section 457(e)(17) in accordance with paragraph 4 of Regulations section 1.403(b)-10(b) and Regulations section 1.457-10(b)(8). However, you must report:- Recharacterized IRA contributions;
- Roth IRA conversions;
- Direct rollovers from qualified plans, section 403(b) plans, or governmental section 457(b) plans, including any direct rollovers from such plans that are IRRs or are qualified rollover contributions described in section 408A(e); and
- Direct payments from IRAs to accepting employer plans.
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