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 4
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24do, report the distribution of DVECs in boxes 1 and 2a on
section 401(k)) and excess aggregate contributions
the separate Form 1099-R. For the direct rollover
(under section 401(m)) and earnings.
(explained later) of funds that include DVECs, a separate
6. Loans treated as deemed distributions (under
Form 1099-R is not required to report the direct rollover of
section 72(p)). However, plan loan offset amounts can be
the DVECs.
eligible rollover distributions. See Regulations section
1.402(c)-2, Q/A-9.
Direct Rollovers
7. Section 404(k) dividends.
You must report a direct rollover of an eligible rollover
8. Cost of current life insurance protection.
distribution. A direct rollover is the direct payment of the
distribution from a qualified plan, a section 403(b) plan, or
9. Distributions to a payee other than the employee,
a governmental section 457(b) plan to a traditional IRA,
the employee's surviving spouse, a spouse or former
Roth IRA, or other eligible retirement plan. For additional
spouse who is an alternate payee under a QDRO, or a
rules regarding the treatment of direct rollovers from
nonspouse designated beneficiary.
designated Roth accounts, see Designated Roth
10. Any hardship distribution.
accounts, later. A direct rollover may be made for the
11. A permissible withdrawal under section 414(w).
employee, for the employee's surviving spouse, for the
12. Prohibited allocations of securities in an S
spouse or former spouse who is an alternate payee under
corporation that are treated as deemed distributions.
a qualified domestic relations order (QDRO) or for a
nonspouse designated beneficiary, in which case the
13. Distributions of premiums for accident or health
direct rollover can only be made to an inherited IRA. If the
insurance under Regulations section 1.402(a)-1(e).
distribution is paid to the surviving spouse, the distribution
Amounts paid under an annuity contract purchased for
is treated in the same manner as if the spouse were the
and distributed to a participant under a qualified plan can
employee. See Part V of Notice 2007-7, 2007-5 I.R.B.
qualify as eligible rollover distributions. See Regulations
395, available at ,
section 1.402(c)-2, Q/A-10.
which has been modified by Notice 2009-82, 2009-41
I.R.B. 491, available at
Automatic rollovers. Eligible rollover distributions may
ar12.html
for guidance on direct rollovers by nonspouse
also include involuntary distributions that are more than
designated beneficiaries. See also Notice 2008-30, Part II,
$1,000 but $5,000 or less and are made from a qualified
2008-12 I.R.B. 638, available at
plan to an IRA on behalf of a plan participant. Involuntary
2008-12_IRB/ar11.html, which has been amplified and
distributions are generally subject to the automatic rollover
clarified by Notice 2009-75, 2009-39 I.R.B. 436, available
provisions of section 401(a)(31)(B) and must be paid in a
at 2009-39_IRB/ar15.html, for questions
direct rollover to an IRA, unless the plan participant elects
and answers covering rollover contributions to Roth IRAs.
to receive the distribution directly.
For information on the notification requirements, see
Notice 2007-7 and Notice 2008-30 do not reflect
Explanation to Recipients Before Eligible Rollover
changes made to section 402 by the Worker,
!
Distributions (Section 402(f) Notice), later. For additional
Retiree, and Employer Recovery Act of 2008.
CAUTION
information, also see Notice 2005-5, 2005-3 I.R.B. 337,
available at 2005-03_IRB/ar10.html,
An eligible rollover distribution is any distribution of all
modified by Notice 2005-95, 2005-51 I.R.B. 1172,
or any portion of the balance to the credit of the employee
available at 2005-51_IRB/ar12.html.
(including net unrealized appreciation (NUA)) from a
qualified plan, a section 403(b) plan, or a governmental
Reporting a direct rollover. Report a direct rollover in
section 457(b) plan except the following.
box 1 and a 0 (zero) in box 2a, unless the rollover is a
direct rollover of a qualified rollover contribution other than
1. One of a series of substantially equal periodic
from a designated Roth account. See Qualified rollover
payments made at least annually over:
contributions as defined in section 408A(e), later. You do
a. The life of the employee or the joint lives of the
not have to report capital gain in box 3 or NUA in box 6.
employee and the employee's designated beneficiary,
Enter Code G in box 7 unless the rollover is a direct
b. The life expectancy of the employee or the joint life
rollover from a designated Roth account to a Roth IRA.
and last survivor expectancy of the employee and the
See Designated Roth accounts, later. If the direct rollover
employee's designated beneficiary, or
is made by a nonspouse designated beneficiary, also
c. A specified period of 10 years or more.
enter Code 4 in box 7.
2. A required minimum distribution (RMD) under
Prepare the form using the name and social security
section 401(a)(9). A plan administrator is permitted to
number (SSN) of the person for whose benefit the funds
assume there is no designated beneficiary for purposes of
were rolled over (generally the participant), not those of
determining the minimum distribution.
the trustee of the traditional IRA or other plan to which the
funds were rolled.
3. Elective deferrals (under section 402(g)(3)) and
employee contributions (including earnings on each)
If part of the distribution is a direct rollover and part is
returned because of the section 415 limits.
distributed to the recipient, prepare two Forms 1099-R.
4. Corrective distributions of excess deferrals (under
For guidance on allocation of after-tax amounts to
section 402(g)) and earnings.
rollovers, see Notice 2014-54, 2014-41, I.R.B. 670
available at 2014-41_IRB/ar11.html.
5. Corrective distributions of excess contributions
under a qualified cash or deferred arrangement (under
-4-
Instructions for Forms 1099-R and 5498 (2016)
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