What is Distribution Code U on Form 1099R Box 7?
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Welcome to the forum (or at least, your first post to the forum since you joined in 2016). The IRS instructions for Form 1099-R have your answer.
Use Code U for a distribution of dividends from an employee stock ownership plan (ESOP) under section 404(k). These are not eligible rollover distributions. Note. Do not report dividends paid by the corporation directly to plan participants or their beneficiaries. Continue to report those dividends on Form 1099-DIV."You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard
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