What is IRS Form 1099-R and when can I expect to receive it?

When you receive a distribution from your IRA or 401(k) Plan, you should receive a report for that distribution from your IRA or 401(k) custodian. This report is provided on IRS Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. (Form 1099-R), which should include the distribution amount and should also indicate whether you had income tax withheld from your distribution.

Our custodian will mail you your 1099-R by January 31st after the distribution year, and will upload a digital copy to the Resource Library of your dashboard by March 12, 2021. They are also required to provide the information reported on your 1099-R to the IRS. You may be required to file this form with your tax return for the year of the distribution.

 

 

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