Form 1099-R

Form 1099-R: Distributions From Pensions, Annuities and Retirement Plans

Key takeaways
* Form 1099-R reports distributions from retirement accounts, pensions, annuities, IRAs, profit‑sharing plans, insurance contracts and similar plans.
* Payers (plan managers, issuers, trustees) must issue a 1099-R for distributions of $10 or more.
* The form shows gross and taxable distributions, federal tax withheld, and a distribution code (Box 7) that describes the type of payment.
* Rollovers, death or disability benefits, and certain loan defaults are also reported on Form 1099-R.

What is Form 1099-R?
Form 1099-R documents distributions from retirement and tax‑deferred accounts so recipients and the IRS can report any taxable income. It helps ensure retirement distributions are included correctly on tax returns.

Who must file and who receives it?
* Required filers: entities that manage retirement plans or pay retirement benefits (plan administrators, insurance companies, brokerage firms, etc.).
* Recipients: account owners, beneficiaries, estates or trusts that receive distributions of $10 or more.
* Timing: payers must provide recipient copies by January 31 of the year following the distribution and also file with the IRS (and state/local tax departments when required).

Common situations reported on 1099-R
* Regular pension or annuity payments.
* IRA distributions (traditional and Roth).
* Direct rollovers between retirement plans (often coded as G or H).
* Death or disability benefit payments to beneficiaries or estates.
* Loan defaults: loans aren’t reported while being repaid, but if they are treated as a distribution (default), that is reported (often coded L) and may be taxable and subject to penalties.

How the form is filled out
A complete 1099-R includes:
* Payer and recipient names, addresses and taxpayer identification numbers (TIN/SSN).
* Gross distribution and taxable amount.
* Federal income tax withheld.
* Box 7 distribution code(s) indicating the nature of the distribution.
Payers must follow the IRS instructions and use the appropriate distribution code(s) in Box 7; the full list of codes and explanations appears in the official Form 1099-R instructions.

Examples of distribution codes (common)
* G or H — direct rollovers or direct trustee-to-trustee transfers.
* L — deemed distribution from a plan loan that was not repaid.
* B — distributions from a designated Roth account.
* J — early distribution from a Roth IRA (specific circumstances).
* 3 — disability.
* 4 — death.
(For a complete, authoritative list, consult the IRS Form 1099-R instructions.)

Other related information returns
Common 1099 variants you may also encounter:
* 1099-INT — interest income.
* 1099-DIV — dividends and distributions.
* 1099-MISC — miscellaneous income (rent, prizes, some contractor payments).
* 1099-K — payment card and third‑party network transactions.
* 1099-B — broker and barter exchange proceeds.
* 1099-G — certain government payments (unemployment, state tax refunds).

How to get a copy or handle errors
* If you don’t receive or you lose a 1099-R, contact the plan administrator or issuer to request a replacement.
* If you receive a 1099-R in error, contact the payer immediately to have it corrected; don’t file an incorrect return based on an erroneous form.

Reporting 1099-R amounts on other returns
* Individuals: include the taxable amount shown on Form 1099-R on your federal income tax return (Form 1040) and pay any tax due.
* Estates and trusts: if a distribution is paid to an estate or trust, report it on Form 1041 (attach the 1099-R and include the income on the appropriate line, typically “Other income”).

Bottom line
Form 1099-R is the primary IRS information return for reporting retirement and similar distributions. Pay close attention to the amounts and distribution codes on the form—these determine taxability and whether special rules (like rollovers or penalties) apply. If you’re unsure how a distribution should be reported or taxed, consult a tax professional or refer to the IRS Form 1099-R instructions.