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1099 question
Old 02-19-2015, 07:38 PM   #1
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1099 question

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.
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Old 02-19-2015, 10:08 PM   #2
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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.

Quote:
Originally Posted by kgtest View Post
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.
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Old 02-19-2015, 10:29 PM   #3
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Why do you think it was a rollover?
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Old 02-20-2015, 09:05 AM   #4
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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.
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FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
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Old 02-20-2015, 10:46 AM   #5
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Sounds like 401K moves Reporting 401(k) and IRA Rollovers | Bankrate.com

might be different than IRAs Unexpected 1099-R Form: What To Do
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Old 02-20-2015, 12:17 PM   #6
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You might give Fidelity a call. Some 1099s are running late, a transfer would seem easy but you never know.
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Old 02-20-2015, 04:33 PM   #7
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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.
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Old 02-20-2015, 04:43 PM   #8
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I've made direct moves from IRA to IRA, 4o1k to IRA, and always gotten a 1099R.
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Old 02-20-2015, 04:43 PM   #9
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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.
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Old 02-20-2015, 05:54 PM   #10
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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)
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Old 02-21-2015, 10:00 AM   #11
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You should get a 1099R with a code G, meaning not taxable.
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Old 02-21-2015, 10:22 AM   #12
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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.
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