1099 question

[kgtest]

I rolled over a TIRA to an IRA at Vanguard last year and I did not receive any forms from Fidelity for this. I was thinking I might get a 1099-R but perhaps not?

It looks like Fidelity processed it as a transfer.

Any ideas if I need to report this? I have my suspicions I should have because I received 1099-Rs for 2 other regular 401k retirement accounts but I understand this wouldn’t be comparing apples to apples.

 

[jwkde]

Confused - you rolled over "at Vanguard" why would you receive forms from Fidelity?

If you meant you moved an IRA from Fidelity to Vanguard, then yes you should have received a 1099 from Fidelity with a rollover code.

I rolled over a TIRA to an IRA at Vanguard last year and I did not receive any forms from Fidelity for this. I was thinking I might get a 1099-R but perhaps not?

It looks like Fidelity processed it as a transfer.

Any ideas if I need to report this? I have my suspicions I should have because I received 1099-Rs for 2 other regular 401k retirement accounts but I understand this wouldn’t be comparing apples to apples.

 

[kaneohe]

Why do you think it was a rollover?

 

[kgtest]

Moved TIRA from Fidelity to VG. I guess it was considered a transfer and not a rollover but either way when large sums of money get moved it's my understanding the IRS needs to know about it...especially if its dealing with retirement money.

I will hit google. Thanks.

 

[kaneohe]

Sounds like 401K moves Reporting 401(k) and IRA Rollovers | Bankrate.com

might be different than IRAs Unexpected 1099-R Form: What To Do

 

[MRG]

You might give Fidelity a call. Some 1099s are running late, a transfer would seem easy but you never know.

 

[jebmke]

If you simply move an IRA from one custodian to another without taking possession of the funds you will not get an 1099. It is not a rollover.

 

[unno2002]

I've made direct moves from IRA to IRA, 4o1k to IRA, and always gotten a 1099R.

 

[Walt34]

If you simply move an IRA from one custodian to another without taking possession of the funds you will not get an 1099. It is not a rollover.

I got one from Fidelity when I rolled over to Vanguard. However, that was a 457 to a IRA so perhaps that was the difference that made Fidelity send a 1099R.

 

[target2019]

Per IRS, no 1099. See the section heading "Transfers." This is a trustee-to-trustee transfer from IRA to IRA.

Instructions for Forms 1099-R and 5498 (2015)

 

[frayne]

You should get a 1099R with a code G, meaning not taxable.

 

[kaneohe]

You should get a 1099R with a code G, meaning not taxable.

from instructions for 1099R: (doesn't sound like it would be used for IRA-IRA)

Use Code G for a direct rollover from a qualified plan, a section 403(b) plan or a
governmental section 457(b) plan to an eligible retirement plan (another qualified plan, a section 403(b) plan, a governmental section 457(b) plan, or an IRA).

See Direct Rollovers, earlier. Also use Code G for a direct payment from an IRA to an accepting employer plan, and for IRRs that are direct rollovers.