Form 1099-R
Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
A 1099-R, “Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.”, is a form used in the U.S. to report distributions from various types of retirement accounts and certain other tax-deferred accounts received during the tax year to both the Internal Revenue Service (IRS) and the person or entity who received the income. This form is typically filed by the institutions or entities that manage and distribute funds from retirement and certain other tax-deferred accounts. This form is part of the 1099 series, which are used to report various types of income that individuals may receive throughout the year other than salary from an employer. It is an essential document for tax reporting purposes, ensuring that interest income is correctly reported to the IRS.
Per the IRS, file Form 1099-R for each person to whom you have made a designated distribution or for whom you are treated as having made a distribution of $10 or more from:
- Profit-sharing or retirement plans.
- Any individual retirement arrangements (IRAs).
- Annuities, pensions, insurance contracts, survivor income benefit plans.
- Permanent and total disability payments under life insurance contracts.
- Charitable gift annuities, etc.