Instructions For Forms 1099-R And 5498 - Distributions From Pensions, Annuities, Retirement Or Profit-Sharing Plans, Iras, Insurance Contracts, Etc. And Ira Contribution Information - Irs - 2017 Page 21
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23Any qualified rollover contribution as defined in section
If you do not furnish another statement to the
408A(e) from an eligible retirement plan (other than an
participant because no reportable contributions
!
IRA) to a Roth IRA.
were made for the year, the statement of the FMV
A military death gratuity.
CAUTION
of the account must contain a legend designating which
An SGLI payment.
information is being filed with the IRS.
Qualified settlement income received in connection with
the Exxon Valdez litigation.
Truncating taxpayer participant's identification
An airline payment amount.
number (TIN) on payee statements. Pursuant to
Treasury Regulations section 301.6109-4, all filers of
For the rollover of property, enter the FMV of the
Form 5498 may truncate a participant’s TIN (social
property on the date you receive it. This value may be
security number (SSN), individual taxpayer identification
different from the value of the property on the date it was
number (ITIN), adoption taxpayer identification number
distributed to the participant.
(ATIN), or employer identification number (EIN)) on payee
For more details, see Pub. 590A.
statements. Truncation is not allowed on any documents
the filer files with the IRS. See part J in the 2017 General
Note. Do not use box 2 for late rollover contributions.
Instructions for Certain Information Returns.
See the instructions for boxes 13a through 13c, later.
Account Number
Box 3. Roth IRA Conversion Amount
The account number is required if you have multiple
Enter the amount converted from a traditional IRA, SEP
accounts for a recipient for whom you are filing more than
IRA, or SIMPLE IRA to a Roth IRA during 2017. Do not
one Form 5498. Additionally, the IRS encourages you to
include a rollover from one Roth IRA to another Roth IRA,
designate an account number for all Forms 5498 that you
or a qualified rollover contribution under section 408A(e)
file. See part L in the 2017 General Instructions for Certain
from an eligible retirement plan (other than an IRA) to a
Information Returns.
Roth IRA. These rollovers are reported in box 2.
Box 1. IRA Contributions (Other Than Amounts
Box 4. Recharacterized Contributions
in Boxes 2–4, 8–10, 13a, and 14a)
Enter any amounts recharacterized plus earnings from
Enter contributions to a traditional IRA made in 2017 and
one type of IRA to another.
through April 17, 2018, designated for 2017.
Box 5. Fair Market Value of Account
Report gross contributions, including the amount
Enter the FMV of the account on December 31, 2017. For
allocable to the cost of life insurance (see box 6) and
inherited IRAs, see Inherited IRAs, earlier.
including any excess contributions, even if the excess
contributions were withdrawn. If an excess contribution is
Trustees and custodians are responsible for
treated as a contribution in a subsequent year under
ensuring that all IRA assets (including those not
!
section 219(f)(6), do not report it on Form 5498 for the
traded on established markets or with otherwise
CAUTION
subsequent year. It has already been reported as a
readily determinable market value) are valued annually at
contribution on Form 5498 for the year it was actually
their fair market value.
contributed.
Box 6. Life Insurance Cost Included in Box 1
Also include employee contributions to an IRA under a
For endowment contracts only, enter the amount included
SEP plan. These are contributions made by the employee,
in box 1 allocable to the cost of life insurance.
not by the employer, that are treated as regular IRA
contributions subject to the 100% of compensation and
Box 7. Checkboxes
$5,500 ($6,500 for participants 50 or older) limits of
section 219. Do not include employer SEP IRA
Check the appropriate box.
contributions or SARSEP contributions under section
IRA. Check “IRA” if you are filing Form 5498 to report
408(k)(6). Instead, include them in box 8.
information about a traditional IRA account.
Also, do not include in box 1 employer contributions,
SEP. Check “SEP” if you are filing Form 5498 to report
including salary deferrals, to a SIMPLE IRA (report them
information about a SEP IRA. If you do not know whether
in box 9) and a Roth IRA (report them in box 10). In
the account is a SEP IRA, check the “IRA” box.
addition, do not include in box 1 rollovers and
SIMPLE. Check “SIMPLE” if you are filing Form 5498 to
recharacterizations (report rollovers in box 2 and
report information about a SIMPLE IRA account. Do not
recharacterizations in box 4), or a Roth IRA conversion
file Form 5498 for a SIMPLE 401(k) plan.
amount (report in box 3).
Roth IRA. Check “Roth IRA” if you are filing Form 5498 to
Box 2. Rollover Contributions
report information about a Roth IRA account.
Enter any rollover contributions (or contributions treated
Box 8. SEP Contributions
as rollovers) to any IRA received by you during 2017.
These contributions may be any of the following.
Enter employer contributions made to a SEP IRA
A 60-day rollover between Roth IRAs or between other
(including salary deferrals under a SARSEP) during 2017,
types of IRAs.
including contributions made in 2017 for 2016, but not
A direct or indirect rollover from a qualified plan, section
including contributions made in 2018 for 2017. Trustees
403(b) plan, or governmental section 457(b) plan.
and issuers are not responsible for reporting the year for
-21-
Instructions for Forms 1099-R and 5498 (2017)
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