I researched this a few weeks ago when we got notified of a class action about a stock that we own in one of our IRAs and they asked on the claim form how we would want the check made out. One of the options was to have it made out to the IRA custodian. I found this article, which has some good references to IRS rulings: https://www.morningstar.com/articles...ings-to-an-ira
My conclusions based on the above were:
1. Yes, it would be a taxable distribution if you have it made out to you. You probably won't get a 1099, because the fund and the IRA custodian are unlikely to connect the dots and figure out that they should issue one, so it's on you to report it.
2. If you put the money into your IRA within 60 days, then it's an allowed rollover or "restorative payment" and is not taxable.
In the end, I decided not to file a claim in our case. The amount of paperwork required was extensive, and it turned out the estimated amount we'd collect was less than $20.