Report distributions from pensions, annuities, IRAs, profit-sharing plans, insurance contracts, and survivor income benefit plans.
Form 1099-R is used to report distributions of $10 or more from retirement plans, pensions, annuities, IRAs, and insurance contracts. The distribution code in Box 7 is critical — it tells the IRS whether the distribution is taxable, an early withdrawal, a rollover, a Roth conversion, or another type.
Filing threshold: $10
Paper Filing
February 28
Electronic Filing
March 31
Recipient Copy
January 31
$60–$310 per form depending on how late
2024 penalty tiers: $60/form (≤30 days late) → $130/form (31 days–Aug 1) → $310/form (after Aug 1) → $630/form (intentional disregard). Small business caps may apply.
| Box | Description |
|---|---|
| Box 1 | Gross distribution |
| Box 2a | Taxable amount |
| Box 4 | Federal income tax withheld |
| Box 7 | Distribution code(s) — identifies the type of distribution |
| Box 9b | Total employee contributions |
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Code 1 = early distribution (under 59½, 10% penalty), Code 2 = early exception applies, Code 3 = disability, Code 4 = death, Code 7 = normal distribution, Code G = direct rollover. There are 20+ codes — the code determines tax treatment.
Qualified Roth IRA distributions (5-year rule met, age 59½+) are tax-free and reported with Code Q in Box 7. Non-qualified distributions may be partially taxable.
Yes. Even though a direct rollover (Code G) is not taxable, the distributing institution must still issue a 1099-R to report the distribution.
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