Instructions For Forms 1099-R And 5498 - 2015 (Page 21 of 23) in pdf

accounts under the inherited IRA rules, earlier. For more

A direct or indirect rollover from a qualified plan, section

information about the requirement to furnish statements to

403(b) plan or governmental section 457(b) plan.

participants, see part M in the 2015 General Instructions

Any qualified rollover contribution as defined in section

for Certain Information Returns.

408A(e) from an eligible retirement plan (other than an

IRA) to a Roth IRA.

If you do not furnish another statement to the

A military death gratuity.

participant because no reportable contributions

An SGLI payment.

were made for the year, the statement of the FMV

CAUTION

Qualified settlement income received in connection

of the account must contain a legend designating which

with the Exxon Valdez litigation.

information is being filed with the IRS.

Airline payment amounts.

Truncating participant's identification number on

For the rollover of property, enter the FMV of the

payee statements. Pursuant to Treasury Regulations

property on the date you receive it. This value may be

section 301.6109-4, all filers of Form 5498 may truncate a

different from the value of the property on the date it was

participant’s identification number (social security number

distributed to the participant.

(SSN), individual taxpayer identification number (ITIN),

adoption taxpayer identification number (ATIN), or

For more details, see Pub. 590A.

employer identification number (EIN)) on payee

statements. Truncation is not allowed on any documents

Box 3. Roth IRA Conversion Amount

the filer files with the IRS. See part J in the 2015 General

Enter the amount converted from a traditional IRA, SEP

Instructions for Certain Information Returns.

IRA, or SIMPLE IRA to a Roth IRA during 2015. Do not

include a rollover from one Roth IRA to another Roth IRA,

Account Number

or a qualified rollover contribution under section 408A(e)

The account number is required if you have multiple

from an eligible retirement plan (other than an IRA) to a

accounts for a recipient for whom you are filing more than

Roth IRA. These rollovers are reported in box 2.

one Form 5498. Additionally, the IRS encourages you to

designate an account number for all Forms 5498 that you

Box 4. Recharacterized Contributions

file. See part L in the 2015 General Instructions for Certain

Enter any amounts recharacterized plus earnings from

Information Returns.

one type of IRA to another.

Box 1. IRA Contributions (Other Than Amounts

Box 5. Fair Market Value of Account

in Boxes 2–4, 8–10, 13a, and 14a)

Enter the FMV of the account on December 31, 2015. For

Enter contributions to a traditional IRA made in 2015 and

inherited IRAs, see Inherited IRAs, earlier.

through April 18, 2016, designated for 2015.

Trustees and custodians are responsible for

Report gross contributions, including the amount

ensuring that all IRA assets (including those not

allocable to the cost of life insurance (see box 6) and

traded on established markets or with otherwise

including any excess contributions, even if the excess

CAUTION

readily determinable market value) are valued annually at

contributions were withdrawn. If an excess contribution is

their fair market value.

treated as a contribution in a subsequent year under

section 219(f)(6), do not report it on Form 5498 for the

Box 6. Life Insurance Cost Included in Box 1

subsequent year. It has already been reported as a

For endowment contracts only, enter the amount included

contribution on Form 5498 for the year it was actually

in box 1 allocable to the cost of life insurance.

contributed.

Also include employee contributions to an IRA under a

Box 7. Checkboxes

SEP plan. These are contributions made by the employee,

Check the appropriate box.

not by the employer, that are treated as regular IRA

contributions subject to the 100% of compensation and

IRA. Check “IRA” if you are filing Form 5498 to report

$5,500 ($6,500 for participants 50 or older) limits of

information about a traditional IRA account.

section 219. Do not include employer SEP IRA

SEP. Check “SEP” if you are filing Form 5498 to report

contributions or SARSEP contributions under section

information about a SEP IRA. If you do not know whether

408(k)(6). Instead, include them in box 8.

the account is a SEP IRA, check the “IRA” box.

Also, do not include in box 1 contributions to a SIMPLE

SIMPLE. Check “SIMPLE” if you are filing Form 5498 to

IRA (report them in box 9) and a Roth IRA (report them in

report information about a SIMPLE IRA account. Do not

box 10). In addition, do not include in box 1 rollovers and

file Form 5498 for a SIMPLE 401(k) plan. See

recharacterizations (report rollovers in box 2 and

section 408(p).

recharacterizations in box 4), or a Roth IRA conversion

amount (report in box 3).

Roth IRA. Check “Roth IRA” if you are filing Form 5498 to

report information about a Roth IRA account.

Box 2. Rollover Contributions

Box 8. SEP Contributions

Enter any rollover contributions (or contributions treated

as rollovers) to any IRA received by you during 2015.

Enter employer contributions made to a SEP IRA

These contributions may be any of the following:

(including salary deferrals under a SARSEP) during 2015

A 60-day rollover between IRAs of the same type.

including contributions made in 2015 for 2014, but not

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Instructions for Forms 1099-R and 5498 (2015)

Instructions For Forms 1099-R And 5498 - 2015 Page 21

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