Instructions For Forms 1099-R And 5498 - Distributions From Pensions, Annuities, Retirement Or Profit-Sharing Plans, Iras, Insurance Contracts, Etc. And Ira Contribution Information - 2016 Page 16
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24Guide to Distribution Codes
*Used with code ...(if
Distribution Codes
Explanations
applicable)
1
1—Early distribution, no known exception.
Use Code 1 only if the participant has not reached age 59
, and you do not know
8, B, D, K, L, or P
2
if any of the exceptions under Code 2, 3, or 4 apply. However, use Code 1 even if
the distribution is made for medical expenses, health insurance premiums,
qualified higher education expenses, a first-time home purchase, or a qualified
reservist distribution under section 72(t)(2)(B), (D), (E), (F), or (G). Code 1 must
1
also be used even if a taxpayer is 59
or older and he or she modifies a series of
2
substantially equal periodic payments under section 72(q), (t), or (v) prior to the
end of the 5-year period which began with the first payment.
1
2—Early distribution, exception applies.
Use Code 2 only if the participant has not reached age 59
and you know the
8, B, D, K, or P
2
distribution is the following.
A Roth IRA conversion (an IRA converted to a Roth IRA).
A distribution made from a qualified retirement plan or IRA because of an IRS
levy under section 6331.
A governmental section 457(b) plan distribution that is not subject to the
additional 10% tax. But see Governmental section 457(b) plan distributions,
earlier, for information on distributions that may be subject to the 10% additional
tax.
A distribution from a qualified retirement plan after separation from service in or
after the year the participant has reached age 55.
A distribution from a governmental defined benefit plan to a public safety
employee (as defined in 72(t)(10)(B)) after separation from service, in or after the
year the employee has reached age 50.
A distribution that is part of a series of substantially equal periodic payments as
described in section 72(q), (t), (u), or (v).
A distribution that is a permissible withdrawal under an eligible automatic
contribution arrangement (EACA).
Any other distribution subject to an exception under section 72(q), (t), (u), or (v)
that is not required to be reported using Code 1, 3, or 4.
3—Disability.
For these purposes, see section 72(m)(7).
D
4—Death.
Use Code 4 regardless of the age of the participant to indicate payment to a
8, A, B, D, G, H, K, L, or P
decedent's beneficiary, including an estate or trust. Also use it for death benefit
payments made by an employer but not made as part of a pension, profit-sharing,
or retirement plan.
5—Prohibited transaction.
Use Code 5 if there was a prohibited transaction involving the IRA account. Code
None
5 means the account is no longer an IRA.
6—Section 1035 exchange.
Use Code 6 to indicate the tax-free exchange of life insurance, annuity, long-term
W
care insurance, or endowment contracts under section 1035.
-16-
Instructions for Forms 1099-R and 5498 (2016)
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