2024

Instructions for Forms 

1099-R and 5498

Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, 

Insurance Contracts, etc.

Department of the Treasury

Internal Revenue Service

Section references are to the Internal Revenue Code unless 

otherwise noted.

Future Developments

For the latest information about developments related to 

Forms 1099-R and 5498 and their instructions, such as 

legislation enacted after they were published, go to IRS.gov/

Form1099R or IRS.gov/Form5498.

What’s New

Automatic rollover amount increased. Beginning January 

1, 2024, the automatic rollover amount has increased from 

$5,000 to $7,000. See Automatic rollovers, later.

Certain corrective distributions not subject to 10% early 

distribution tax. Beginning on December 29, 2022, the 

10% additional tax on early distributions does not apply to an 

IRA distribution made pursuant to the rules of section 408(d)

(4), which consists of a contribution for that year and any 

earnings allocable to the contribution, as long as the 

distribution is made on or before the due date (including 

extensions) of the income tax return. See Corrective 

Distributions for more information.

Designated Roth nonelective contributions and designated Roth matching contributions. The SECURE 2.0 Act 

of 2022 permits certain nonelective contributions and 

matching contributions that are made after December 29, 

2022, to be designated as Roth contributions.

Distributions for emergency personal expenses. For 

distributions made after December 31, 2023, an emergency 

personal expense distribution may be made from a 403(b) 

plan and is not subject to the 10% additional tax on early 

distributions. An emergency personal expense distribution is 

a distribution made from your applicable eligible retirement 

plan that is used for purposes of meeting unforeseeable or 

immediate financial needs relating to necessary personal or 

family emergency expenses. There are certain limits that 

apply for emergency personal expense distributions (one per 

calendar year, dollar limits of generally not more than $1,000, 

and limits on subsequent distributions). You may repay 

emergency personal expense distributions at any time during 

the 3-year period beginning on the day after the date on 

which you received the distribution. For more information, 

see Notice 2024-55.

Distributions to a domestic abuse victim. For 

distributions made after December 31, 2023, a distribution to 

a domestic abuse victim may be made from a 403(b) plan 

and is not subject to the 10% additional tax on early 

distributions. A distribution to a domestic abuse victim is a 

distribution made from your applicable eligible retirement 

plan that is no greater than $10,000 (indexed for inflation) 

and is made during the 1-year period beginning on any date 

on which you are the victim of domestic abuse by a spouse or 

domestic partner. You may repay this distribution at any time 

during the 3-year period beginning on the day after the date 

on which you received the distribution. For more information, 

see Notice 2024-55.

Distributions to terminally ill individuals. The exception 

to the 10% additional tax for early distributions is expanded to 

apply to distributions made to terminally ill individuals on or 

after December 30, 2022. For more information, see Notice 

2024-02.

Disaster tax relief. The special rules that provide for 

tax-favored withdrawals and repayments now apply to 

disasters that occur on or after January 26, 2021. See 

Disaster-Related Relief in Pub. 590-B, Distributions From 

Individual Retirement Arrangements (IRAs).

Increase in required minimum distribution (RMD) age. 

The age for RMDs was increased to 73 by the SECURE 2.0 

Act of 2022. For more information, see RMDs, later.

Reminders

In addition, see the current General Instructions for Certain 

Information Returns for information on the following topics.

• Who must file (certain Foreign Financial Institutions (FFIs) 

and U.S. payers that report on Form(s) 1099 to satisfy their 

Internal Revenue Code chapter 4 reporting requirements).

• When and where to file.

• Electronic reporting.

• Corrected and void returns.

• Statements to recipients.

• Taxpayer identification numbers (TINs).

• Backup withholding.

• Penalties.

• The definitions of terms applicable for chapter 4 purposes 

that are referenced in these instructions.

• Other general topics.

You can get the general instructions from General 

Instructions for Certain Information Returns at IRS.gov/

1099GeneralInstructions or go to IRS.gov/Form1099R or 

IRS.gov/Form5498.

E-filing returns. The Taxpayer First Act of 2019 authorized 

the Department of the Treasury and the IRS to issue 

regulations that reduce the 250-return e-file threshold. T.D. 

9972, published February 23, 2023, lowered the e-file 

threshold to 10 (calculated by aggregating all information 

returns), effective for information returns required to be filed 

on or after January 1, 2024. Go to IRS.gov/InfoReturn for 

e-file options.

Information Reporting Intake System (IRIS). The IRS has 

developed IRIS, an online portal that allows taxpayers to 

electronically file (e-file) information returns after December 

31, 2022, for 2022 and later tax years. Go to IRS.gov/IRIS for 

additional information and updates.

Aug 21, 2024 Cat. No. 27987M
Online fillable forms. To ease statement furnishing 

requirements, Copies B, C, 1, and 2 have been made fillable 

online in a PDF format available at IRS.gov/Form1099R and 

IRS.gov/Form5498. You can complete these copies online for 

furnishing statements to recipients and for retaining in your 

own files.

Qualified tuition program rollover to a Roth IRA. 

Effective with respect to distributions made after December 

31, 2023, a beneficiary of a section 529 qualified tuition 

program is permitted to roll over a distribution from the 

section 529 account to a Roth IRA for the beneficiary, under 

certain conditions (for example, such rollover must be paid 

through a direct trustee-to-trustee transfer, are subject to the 

Roth IRA annual contribution limit and a $35,000 lifetime limit, 

and must be from a section 529 account that has been open 

for more than 15 years). Such rollovers are reported on Form 

5498 as Roth IRA contributions and not as rollover 

contributions.

Roth SEP IRAs and Roth SIMPLE IRAs. For tax years 

beginning after December 31, 2022, a simplified employee 

pension (SEP) arrangement or SIMPLE IRA plan may allow 

an employee to designate a Roth IRA as the IRA to which 

contributions under the arrangement or plan are made. 

Employer matching and nonelective contributions made to a 

Roth SEP or Roth SIMPLE IRA must be reported for the year 

in which the contributions are made to the employee's Roth 

IRA, with the total reported in boxes 1 and 2a, using code 2 

or 7 in box 7 and the IRA/SEP/SIMPLE checkbox in box 7 

checked.

Specific Instructions for Form 1099-R

File Form 1099-R, Distributions From Pensions, Annuities, 

Retirement or Profit-Sharing Plans, IRAs, Insurance 

Contracts, etc., for each person to whom you have made a 

designated distribution or 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.

Designated Roth nonelective contributions and 

designated Roth matching contributions must be reported on 

Form 1099-R for the year in which the contributions are 

allocated. See Q&A L-9 of Notice 2024-2, available at 

IRS.gov/irb/2024-02_IRB#NOT-2024-2.

Also, report on Form 1099-R death benefits payments 

made by employers that are not made as part of a pension, 

profit-sharing, or retirement plan. See Box 1, later.

Payments of reportable death benefits in accordance with 

final regulations published under section 6050Y must be 

reported on Form 1099-R.

Reportable disability payments made from a retirement 

plan must be reported on Form 1099-R.

Generally, do not report payments subject to withholding 

of social security and Medicare taxes on this form. Report 

such payments on Form W-2, Wage and Tax Statement.

There is no special reporting for qualified charitable 

distributions under section 408(d)(8) or qualified 

health savings account (HSA) funding distributions 

described in section 408(d)(9), or for the payment of qualified 

health insurance premiums (including long-term care 

insurance premiums) for retired public safety officers 

described in section 402(l).

TIP

Reportable death benefits. Under section 6050Y and the 

regulations thereunder, a payer must report reportable death 

benefits paid after December 31, 2018, in connection with a 

life insurance contract transferred after December 31, 2018, 

in a reportable policy sale. Reportable death benefits are 

amounts paid by reason of the death of the insured under a 

life insurance contract that has been transferred in a 

reportable policy sale. In general, a reportable policy sale is 

the acquisition of an interest in a life insurance contract, 

directly or indirectly, if the acquirer has no substantial family, 

business, or financial relationship with the insured apart from 

the acquirer's interest in such life insurance contract. The 

payer of reportable death benefits must file a return that 

includes certain information, including the name of the 

reportable death benefits payment recipient, the date and 

gross amount of each payment, and the payer's estimate of 

the buyer's investment in the contract. Under Regulations 

section 1.6050Y-4(e), however, a payer does not have to file 

a return for reportable death benefits payments in certain 

situations, including when the reportable death benefits 

payments are made to certain foreign payees and when the 

payer does not receive, and has no knowledge of any issuer 

having received, a reportable policy sale payment statement.

Military retirement annuities. Report payments to military 

retirees or payments of survivor benefit annuities on Form 

1099-R. Report military retirement pay awarded as a property 

settlement to a former spouse under the name and TIN of the 

recipient, not that of the military retiree.

Use Code 7 in box 7 for reporting military pensions or 

survivor benefit annuities. Use Code 4 for reporting 

death benefits paid to a survivor beneficiary on a 

separate Form 1099-R. Do not combine with any other 

codes.

Governmental section 457(b) plans. Report on Form 

1099-R, not Form W-2, income tax withholding and 

distributions from a section 457(b) plan maintained by a state 

or local government employer. Distributions from a 

governmental section 457(b) plan to a participant or 

beneficiary include all amounts that are paid from the plan. 

For more information, see Notice 2003-20 on page 894 of 

Internal Revenue Bulletin (IRB) 2003-19 at IRS.gov/pub/irsirbs/irb03-19.pdf. Also, see Governmental section 457(b) 

plan distributions, later, for information on distribution codes.

Nonqualified plans. Report any reportable distributions 

from commercial annuities. Report distributions to employee 

plan participants from section 409A nonqualified deferred 

compensation plans and eligible nongovernmental section 

457(b) plans on Form W-2, not on Form 1099-R; for 

nonemployees, these payments are reportable on Form 

1099-NEC. Report distributions to beneficiaries of deceased 

plan participants on Form 1099-MISC. For more information, 

see the Instructions for Forms 1099-MISC and 1099-NEC at 

IRS.gov/pub/irs-pdf/i1099mec.pdf.

Section 404(k) dividends. Distributions of section 404(k) 

dividends from an employee stock ownership plan (ESOP), 

including a tax credit ESOP, are reported on Form 1099-R. 

Distributions other than section 404(k) dividends from the 

plan must be reported on a separate Form 1099-R.

Section 404(k) dividends paid directly from the corporation 

to participants or their beneficiaries are reported on Form 

1099-DIV. See Announcement 2008-56, 2008-26 I.R.B. 

1192, available at IRS.gov/irb/2008-26_IRB#ANN-2008-56.

CAUTION

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2 Instructions for Forms 1099-R and 5498 (2024)
Charitable gift annuities. If cash or capital gain property is 

donated in exchange for a charitable gift annuity, report 

distributions from the annuity on Form 1099-R. See 

Charitable gift annuities, later.

Life insurance, annuity, and endowment contracts. 

Report payments of matured or redeemed annuity, 

endowment, and life insurance contracts. However, you do 

not need to file Form 1099-R to report the surrender of a life 

insurance contract if it is reasonable to believe that none of 

the payment is includible in the income of the recipient. If you 

are reporting the surrender of a life insurance contract, see 

Code 7, later. See, however, Box 1, later, for FFIs reporting in 

a manner similar to section 6047(d) for the purposes of 

chapter 4 of the Internal Revenue Code.

Report premiums paid by a trustee or custodian for the 

cost of current life or other insurance protection. Costs of 

current life insurance protection are not subject to the 10% 

additional tax under section 72(t). See Cost of current life 

insurance protection, later.

Report charges or payments for a qualified long-term care 

insurance contract against the cash value of an annuity 

contract or the cash surrender value of a life insurance 

contract, which is excludable from gross income under 

section 72(e)(11). See Code W, later.

Section 1035 exchange. A tax-free section 1035 

exchange is the exchange of (a) a life insurance contract for 

another life insurance contract, or for an endowment or 

annuity contract, or for a qualified long-term care insurance 

contract; (b) a contract of endowment insurance for another 

contract of endowment insurance that provides for regular 

payments to begin no later than they would have begun 

under the old contract, or for an annuity contract, or for a 

qualified long-term care insurance contract; (c) an annuity 

contract for an annuity contract or for a qualified long-term 

care insurance contract; or (d) a qualified long-term care 

insurance contract for a qualified long-term care insurance 

contract. A contract shall not fail to be treated as an annuity 

contract or as a life insurance contract solely because a 

qualified long-term care insurance contract is a part of, or a 

rider on, such contract. However, the distribution of other 

property or the cancellation of a contract loan at the time of 

the exchange may be taxable and reportable on a separate 

Form 1099-R.

These exchanges of contracts are generally reportable on 

Form 1099-R. However, reporting on Form 1099-R is not 

required if (a) the exchange occurs within the same 

company; (b) the exchange is solely a contract for contract 

exchange, as defined above, that does not result in a 

designated distribution; and (c) the company maintains 

adequate records of the policyholder's basis in the contracts. 

For example, a life insurance contract issued by Company X 

received in exchange solely for another life insurance 

contract previously issued by Company X does not have to 

be reported on Form 1099-R as long as the company 

maintains the required records. See Rev. Proc. 92-26, 1992-1 

C.B. 744, for certain exchanges for which reporting is not 

required under section 6047(d). Also, see Rev. Rul. 2007-24, 

2007-21 I.R.B. 1282, available at IRS.gov/irb/

2007-21_IRB#RR-2007-24, for certain transactions that do 

not qualify as tax-free exchanges. For more information on 

partial exchanges of annuity contracts, see Rev. Proc. 

2011-38, 2011-30 I.R.B. 66, available at IRS.gov/irb/

2011-30_IRB#RP-2011-38.

Regulations under section 6050Y provide that a section 

1035 exchange constitutes a reportable policy sale in limited 

circumstances. Death benefits paid by reason of the death of 

the insured under the life insurance contract issued in such 

circumstances are reportable death benefits that must be 

reported on Form 1099-R.

For more information on reporting taxable exchanges, see 

Box 1. Gross Distribution, later.

Prohibited transactions. If an IRA owner engages in a 

prohibited transaction with respect to an IRA, the assets of 

the IRA are treated as distributed on the first day of the tax 

year in which the prohibited transaction occurs. IRAs that 

hold non-marketable securities and/or closely held 

investments, in which the IRA owner effectively controls the 

underlying assets of such securities or investments, have a 

greater potential for resulting in a prohibited transaction. 

Enter Code 5 in box 7.

Designated Roth Account Contributions

An employer offering a section 401(k), 403(b), or 

governmental section 457(b) plan may allow participants to 

contribute all or a portion of the elective deferrals they are 

otherwise eligible to make to a separate designated Roth 

account established under the plan. These contributions, 

which are made in lieu of elective deferrals, are designated 

Roth contributions. Contributions made under a section 

401(k) plan must meet the requirements of Regulations 

section 1.401(k)-1(f) (Regulations section 1.403(b)-3(c) for a 

section 403(b) plan). In addition, a designated Roth account 

may include certain nonelective contributions or matching 

contributions that a participant designates as Roth 

contributions. Under the terms of the section 401(k) plan, 

section 403(b) plan, or governmental section 457(b) plan, the 

designated Roth account must meet the requirements of 

section 402A.

A separate Form 1099-R must be used to report the 

total annual distribution from a designated Roth 

account.

Distributions allocable to an in-plan Roth rollover (IRR). 

The distribution of an amount allocable to the taxable amount 

of an IRR, made within the 5-year period beginning with the 

first day of the participant’s tax year in which the rollover was 

made, is treated as includible in gross income for purposes of 

applying section 72(t) to the distribution. The total amount 

allocable to such an IRR is reported in box 10. See the 

instructions for Box 10. Amount Allocable to IRR Within 5 

Years, later. An IRR is a rollover within a retirement plan to a 

designated Roth account in the same plan. See Notice 

2010-84, 2010-51 I.R.B. 872, available at IRS.gov/irb/

2010-51_IRB#NOT-2010-84, as modified by Notice 2013-74, 

2013-52 I.R.B. 819, available at IRS.gov/irb/

2013-52_IRB#NOT-2013-74.

IRA Distributions

For deemed IRAs under section 408(q), use the rules 

that apply to traditional IRAs or Roth IRAs, as 

applicable. Simplified employee pension (SEP) IRAs 

and savings incentive match plan for employees (SIMPLE) 

IRAs, however, may not be used as deemed IRAs.

Deemed IRAs. For more information on deemed IRAs in 

qualified employer plans, see Regulations section 1.408(q)-1.

CAUTION

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TIP

Instructions for Forms 1099-R and 5498 (2024) 3
IRAs other than Roth IRAs. Unless otherwise instructed, 

distributions from any IRA that is not a Roth IRA must be 

reported in boxes 1 and 2a. Check the “Taxable amount not 

determined” box in box 2b. But see:

• Traditional, SEP, or SIMPLE IRA, later, for how to report the 

withdrawal of IRA contributions under section 408(d)(4);

• Transfers, later, for information on trustee-to-trustee 

transfers, including recharacterizations;

• Traditional, SEP, or SIMPLE IRA, later, for reporting a 

corrective distribution from an IRA under section 408(d)(5);

• IRA Revocation or Account Closure, later, for reporting IRA 

revocations or account closures due to Customer 

Identification Program failures; and

• Traditional, SEP, or SIMPLE IRA, later, for reporting a 

transfer from a SIMPLE IRA to a non-SIMPLE IRA within the 

first 2 years of plan participation.

The direct rollover provisions beginning later do not apply 

to distributions from any IRA. However, taxable distributions 

from traditional IRAs and SEP IRAs may be rolled over into 

an eligible retirement plan. See section 408(d)(3). SIMPLE 

IRAs may also be rolled over into an eligible retirement plan, 

but only after the first 2 years of plan participation.

An IRA includes all investments under one IRA plan or 

account. File only one Form 1099-R for distributions from all 

investments under one plan that are paid in 1 year to one 

recipient, unless you must enter different codes in box 7. You 

do not have to file a separate Form 1099-R for each 

distribution under the plan.

Roth IRAs. For distributions from a Roth IRA, report the 

gross distribution in box 1 but generally leave box 2a blank. 

Check the “Taxable amount not determined” box in box 2b. 

Enter Code J, Q, or T, as appropriate, in box 7. Do not use 

any other codes with Code Q or Code T. You may enter Code 

8 or P with Code J. For the withdrawal of excess 

contributions, see Roth IRA under Box 2a. Taxable amount, 

later. It is not necessary to mark the IRA/SEP/SIMPLE 

checkbox.

Reporting Roth IRA conversions. You must report a 

traditional, SEP, or SIMPLE IRA distribution that you know is 

converted this year to a Roth IRA in boxes 1 and 2a 

(checking box 2b “Taxable amount not determined” unless 

otherwise directed elsewhere in these instructions), even if 

the conversion is a trustee-to-trustee transfer or is with the 

same trustee. Enter Code 2 or 7 in box 7 depending on the 

participant's age.

IRA escheatment. Payments made from IRAs to state 

unclaimed property funds must be reported on Form 1099-R. 

See Rev. Rul. 2018-17, 2018-25 I.R.B. 753, available at 

IRS.gov/irb/2018-25_IRB#RR-2018-17, as modified by 

Notice 2018-90, 2018-49 I.R.B. 826, available at IRS.gov/irb/

2018-49_IRB#NOT-2018-90.

IRA Revocation or Account Closure

If a traditional or Roth IRA is revoked during its first 7 days 

(under Regulations section 1.408-6(d)(4)(ii)) or is closed at 

any time by the IRA trustee or custodian due to a failure of 

the taxpayer to satisfy the Customer Identification Program 

requirements described in section 326 of the USA PATRIOT 

Act, the distribution from the IRA must be reported. In 

addition, Form 5498, IRA Contribution Information, must be 

filed to report any regular, rollover, Roth IRA conversion, SEP 

IRA, or SIMPLE IRA contribution to an IRA that is 

subsequently revoked or closed by the trustee or custodian.

If a regular contribution is made to a traditional or Roth IRA 

that is later revoked or closed, and a distribution is made to 

the taxpayer, enter the gross distribution in box 1. If no 

earnings are distributed, enter 0 (zero) in box 2a and Code 8 

in box 7 for a traditional IRA and Code J for a Roth IRA. If 

earnings are distributed, enter the amount of earnings in 

box 2a. For a traditional IRA, enter Codes 1 and 8, if 

applicable, in box 7; for a Roth IRA, enter Codes J and 8, if 

applicable. These earnings could be subject to the 10% 

additional tax under section 72(t). If a rollover contribution is 

made to a traditional or Roth IRA that is later revoked or 

closed, and distribution is made to the taxpayer, enter in 

boxes 1 and 2a of Form 1099-R the gross distribution and the 

appropriate code in box 7 (Code J for a Roth IRA). Follow this 

same procedure for a transfer from a traditional or Roth IRA 

to another IRA of the same type that is later revoked or 

closed. The distribution could be subject to the 10% 

additional tax under section 72(t).

If an IRA conversion contribution or a rollover from a 

qualified plan is made to a Roth IRA that is later revoked or 

closed, and a distribution is made to the taxpayer, enter the 

gross distribution in box 1 of Form 1099-R. If no earnings are 

distributed, enter 0 (zero) in box 2a and Code J in box 7. If 

earnings are distributed, enter the amount of the earnings in 

box 2a and Code J in box 7. These earnings could be subject 

to the 10% additional tax under section 72(t).

If an employer SEP IRA or SIMPLE IRA plan contribution 

is made and the SEP IRA or SIMPLE IRA is revoked by the 

employee or is closed by the trustee or custodian, report the 

distribution as fully taxable.

For more information on IRAs that have been revoked, see 

Rev. Proc. 91-70, 1991-2 C.B. 899.

Roth SEP IRAs and Roth SIMPLE IRAs

Employer matching and nonelective contributions made to a 

Roth SEP or Roth SIMPLE IRA must be reported in the same 

manner as the reporting that would have applied if (1) there 

were no after-tax contributions made to any of the 

employee's IRAs, and (2) the matching or nonelective 

contributions were made to an IRA that was not a Roth IRA 

and then immediately converted to a Roth IRA. So, employer 

matching and nonelective contributions made to a Roth SEP 

or Roth SIMPLE IRA must be reported for the year in which 

the contributions are made to the employee's Roth IRA, with 

the total reported in boxes 1 and 2a, using code 2 or 7 in 

box 7 and the IRA/SEP/SIMPLE checkbox in box 7 checked.

Plan Escheatment

Payments made from qualified plans on or after January 1, 

2022, to state unclaimed property funds must be reported on 

Form 1099-R. See Rev. Rul. 2020-24, 2020-45 I.R.B. 965, 

available at IRS.gov/irb/2020-45_IRB#REV-RUL-2020-24.

Deductible Voluntary Employee Contributions 

(DVECs)

If you are reporting a total distribution from a plan that 

includes a distribution of DVECs, you may file a separate 

Form 1099-R to report the distribution of DVECs. If you do, 

report the distribution of DVECs in boxes 1 and 2a on the 

separate Form 1099-R. For the direct rollover (explained 

later) of funds that include DVECs, a separate Form 1099-R 

is not required to report the direct rollover of the DVECs.

4 Instructions for Forms 1099-R and 5498 (2024)
Direct Rollovers

You must report a direct rollover of an eligible rollover 

distribution. A direct rollover is the direct payment of the 

distribution from a qualified plan, a section 403(b) plan, or a 

governmental section 457(b) plan to a traditional IRA, Roth 

IRA, or other eligible retirement plan. For additional rules 

regarding the treatment of direct rollovers from designated 

Roth accounts, see Designated Roth accounts, later. A direct 

rollover may be made for the employee, for the employee's 

surviving spouse, for the spouse or former spouse who is an 

alternate payee under a qualified domestic relations order 

(QDRO), or for a nonspouse designated beneficiary, in which 

case the direct rollover can only be made to an inherited IRA. 

If the distribution is paid to the surviving spouse, the 

distribution is treated in the same manner as if the spouse 

were the employee. See Part V of Notice 2007-7, 2007-5 

I.R.B. 395, available at IRS.gov/irb/

2007-05_IRB#NOT-2007-7, and Notice 2020-51, 2020-29 

I.R.B. 73, available at IRS.gov/irb/

2020-29_IRB#NOT-2020-51, for guidance on direct rollovers 

by nonspouse designated beneficiaries. Also, see Notice 

2008-30, Part II, 2008-12 I.R.B. 638, available at IRS.gov/irb/

2008-12_IRB#NOT-2008-30, which has been amplified and 

clarified by Notice 2009-75, 2009-39 I.R.B. 436, available at 

IRS.gov/irb/2009-39_IRB#NOT-2009-75, for questions and 

answers covering rollover contributions to Roth IRAs.

An eligible rollover distribution is any distribution of all or 

any portion of the balance to the credit of the employee 

(including net unrealized appreciation (NUA)) from a qualified 

plan, a section 403(b) plan, or a governmental section 457(b) 

plan except the following.

1. One of a series of substantially equal periodic 

payments made at least annually over:

a. The life of the employee or the joint lives of the 

employee and the employee's designated beneficiary,

b. The life expectancy of the employee or the joint life and 

last survivor expectancy of the employee and the employee's 

designated beneficiary, or

c. A specified period of 10 years or more.

2. A required minimum distribution (RMD) under section 

401(a)(9). A plan administrator is permitted to assume there 

is no designated beneficiary for purposes of determining the 

minimum distribution.

3. Elective deferrals (under section 402(g)(3)) and 

employee contributions (including earnings on each) returned 

because of the section 415 limits.

4. Corrective distributions of excess deferrals (under 

section 402(g)) and earnings.

5. Corrective distributions of excess contributions under a 

qualified cash or deferred arrangement (under section 

401(k)) and excess aggregate contributions (under section 

401(m)) and earnings.

6. Loans treated as deemed distributions (under section 

72(p)). However, qualified plan loan offset amounts and plan 

loan offset amounts can be eligible rollover distributions. See 

section 402(c)(3)(C) and Regulations section 1.402(c)-2, 

Q/A-9 and Plan Loan Offsets, later.

7. Section 404(k) dividends.

8. Cost of current life insurance protection.

9. Distributions to a payee other than the employee, the 

employee's surviving spouse, a spouse or former spouse 

who is an alternate payee under a QDRO, or a nonspouse 

designated beneficiary.

10. Any hardship distribution.

11. A permissible withdrawal under section 414(w).

12. Prohibited allocations of securities in an S corporation 

that are treated as deemed distributions.

13. Distributions of premiums for accident or health 

insurance under Regulations section 1.402(a)-1(e).

Amounts paid under an annuity contract purchased for, 

and distributed to, a participant under a qualified plan can 

qualify as eligible rollover distributions. See Regulations 

section 1.402(c)-2, Q/A-10.

Automatic rollovers. Eligible rollover distributions may also 

include involuntary distributions that are more than $1,000 

but not more than $7,000 and are made from a qualified plan 

to an IRA on behalf of a plan participant. Involuntary 

distributions are generally subject to the automatic rollover 

provisions of section 401(a)(31)(B) and must be paid in a 

direct rollover to an IRA, unless the plan participant elects to 

have the rollover made to another eligible retirement plan or 

to receive the distribution directly.

For information on the notification requirements, see 

Explanation to Recipients Before Eligible Rollover 

Distributions (Section 402(f) Notice), later. For additional 

information, also see Notice 2005-5, 2005-3 I.R.B. 337, 

available at IRS.gov/irb/2005-03_IRB#NOT-2005-5, as 

modified by Notice 2005-95, 2005-51 I.R.B. 1172, available 

at IRS.gov/irb/2005-51_IRB#NOT-2005-95.

Reporting a direct rollover. Report a direct rollover in 

box 1 and a 0 (zero) in box 2a, unless the rollover is a direct 

rollover of a qualified rollover contribution other than from a 

designated Roth account. See Qualified rollover contributions 

as defined in section 408A(e), later. You do not have to report 

capital gain in box 3 or NUA in box 6. Enter Code G in box 7 

unless the rollover is a direct rollover from a designated Roth 

account to a Roth IRA. See Designated Roth accounts, later. 

If the direct rollover is made by a nonspouse designated 

beneficiary, also enter Code 4 in box 7.

Prepare the form using the name and social security 

number (SSN) of the person for whose benefit the funds were 

rolled over (generally, the participant), not those of the trustee 

of the traditional IRA or other plan to which the funds were 

rolled.

If part of the distribution is a direct rollover and part is 

distributed to the recipient, prepare two Forms 1099-R.

For guidance on allocation of after-tax amounts to 

rollovers, see Notice 2014-54, 2014-41 I.R.B. 670, available 

at IRS.gov/irb/2014-41_IRB#NOT-2014-54.

For more information on eligible rollover distributions, 

including substantially equal periodic payments, RMDs, and 

plan loan offset amounts, see Regulations sections 

1.402(c)-2 and 1.403(b)-7(b). See Rev. Rul. 2014-9, 2014-17 

I.R.B. 975, available at IRS.gov/irb/2014-17_IRB#RR-2014-9, 

for information on rollovers to qualified plans. Also, see Rev. 

Rul. 2002-62, which is on page 710 of I.R.B. 2002-42 at 

IRS.gov/pub/irs-irbs/irb02-42.pdf, for guidance on 

substantially equal periodic payments.

Instructions for Forms 1099-R and 5498 (2024) 5
For information on distributions of amounts 

attributable to rollover contributions separately 

accounted for by an eligible retirement plan and if 

permissible timing restrictions apply, see Rev. Rul. 2004-12, 

2004-7 I.R.B. 478, available at IRS.gov/irb/

2004-07_IRB#RR-2004-12, as modified by Notice 2013-74.

Designated Roth accounts. A direct rollover from a 

designated Roth account may only be made to another 

designated Roth account or to a Roth IRA. A distribution from 

a Roth IRA, however, cannot be rolled over into a designated 

Roth account. In addition, a plan is permitted to treat the 

balance of the participant's designated Roth account and the 

participant's other accounts under the plan as accounts held 

under two separate plans for purposes of applying the 

automatic rollover rules of section 401(a)(31)(B) and Q/A-9 

through Q/A-11 of Regulations section 1.401(a)(31)-1. Thus, 

if a participant's balance in the designated Roth account is 

less than $200, the plan is not required to offer a direct 

rollover election or to apply the automatic rollover provisions 

to such balance.

A distribution from a designated Roth account that is a 

qualified distribution is tax free. A qualified distribution is a 

payment that is made both after age 591/2 (or after death or 

disabililty) and after the 5-tax-year period that begins with the 

first day of the first tax year in which a contribution is made to 

the designated Roth account. Certain amounts, including 

corrective distributions, cannot be qualified distributions. See 

Regulations section 1.402A-1.

If any portion of a distribution from a designated Roth 

account that is not includible in gross income is to be rolled 

over into a designated Roth account under another plan, the 

rollover must be accomplished by a direct rollover. Any 

portion not includible in gross income that is distributed to the 

employee, however, cannot be rolled over to another 

designated Roth account, though it can be rolled over into a 

Roth IRA within the 60-day period described in section 

402(c)(3). In the case of a direct rollover, the distributing plan 

is required to report to the recipient plan the amount of the 

investment (basis) in the contract and the first year of the 

5-tax-year period, or that the distribution is a qualified 

distribution.

For a direct rollover of a distribution from a designated 

Roth account to a Roth IRA, enter the amount rolled over in 

box 1 and 0 (zero) in box 2a. Use Code H in box 7. For all 

other distributions from a designated Roth account, use 

Code B in box 7, unless Code E applies. If the direct rollover 

is from one designated Roth account to another designated 

Roth account, also enter Code G in box 7.

For a direct rollover of a distribution from a section 401(k) 

plan, a section 403(b) plan, or a governmental section 457(b) 

plan to a designated Roth account in the same plan, enter 

the amount rolled over in box 1, the taxable amount in box 2a, 

and any basis recovery amount in box 5. Use Code G in 

box 7.

Report designated Roth nonelective contributions and 

designated Roth matching contributions for the year in which 

the contributions are allocated. Enter the total amount of 

designated Roth nonelective contributions and designated 

Roth matching contributions that are allocated to an 

individual's acount in the year in boxes 1 and 2a. Use Code G 

in box 7. See Q&A L-9 of Notice 2024-2, available at 

IRS.gov/irb/2024-02_IRB#NOT-2024-2.

TIP

Qualified rollover contributions as defined in section 

408A(e). A qualified rollover contribution as defined in 

section 408A(e) is:

• A rollover contribution to a Roth IRA from another IRA that 

meets the requirements of section 408(d)(3), or

• A rollover contribution to a Roth IRA from an eligible 

retirement plan (other than an IRA) that meets the 

requirements of section 408A(e)(1)(B).

For reporting a rollover from an IRA other than a Roth IRA 

to a Roth IRA, see Reporting Roth IRA conversions, earlier.

For a direct rollover of an eligible rollover distribution to a 

Roth IRA (other than from a designated Roth account), report 

the total amount rolled over in box 1, the taxable amount in 

box 2a, and any basis recovery amount in box 5. (See the 

instructions for Box 5. FMV of Account, later.) Use Code G in 

box 7. If the direct rollover is made on behalf of a nonspouse 

designated beneficiary, also enter Code 4 in box 7.

For reporting instructions for a direct rollover from a 

designated Roth account, see Designated Roth accounts, 

earlier.

Explanation to Recipients Before Eligible 

Rollover Distributions (Section 402(f) Notice)

For qualified plans, section 403(b) plans, and governmental 

section 457(b) plans, the plan administrator must provide to 

each recipient of an eligible rollover distribution an 

explanation using either a written paper document or an 

electronic medium (section 402(f) notice). The explanation 

must be provided no more than 180 days and no fewer than 

30 days before making an eligible rollover distribution or 

before the annuity starting date. However, if the recipient who 

has received the section 402(f) notice affirmatively elects a 

distribution, you will not fail to satisfy the timing requirements 

merely because you make the distribution fewer than 30 days 

after you provided the notice as long as you meet the 

requirements of Regulations section 1.402(f)-1, Q/A-2. The 

electronic section 402(f) notice must meet the requirements 

for using electronic media in Regulations section 

1.401(a)-21.

The notice must explain the rollover rules, the special tax 

treatment for certain lump-sum distributions, the direct 

rollover option (and any default procedures), the mandatory 

20% withholding rules, and an explanation of how 

distributions from the plan to which the rollover is made may 

have different restrictions and tax consequences than the 

plan from which the rollover is made.

For periodic payments that are eligible rollover 

distributions, you must provide the notice before the first 

payment and at least once a year as long as the payments 

continue. For section 403(b) plans, the payer must provide an 

explanation of the direct rollover option within the time period 

described earlier or some other reasonable period of time.

Notice 2020-62, 2020-35 I.R.B. 476, available at 

IRS.gov/irb/2020-35_IRB#NOT-2020-62, contains two safe 

harbor explanations that may be provided to recipients of 

eligible rollover distributions from an employer plan in order to 

satisfy section 402(f).

Involuntary distributions. For involuntary distributions paid 

to an IRA in a direct rollover (automatic rollover), you may 

satisfy the notification requirements of section 401(a)(31)(B)

(i) either separately or as a part of the section 402(f) notice. 

The notification must be in writing and may be sent using 

electronic media in accordance with Q/A-5 of Regulations 

section 1.402(f)-1. Also, see Notice 2005-5, Q/A-15.

6 Instructions for Forms 1099-R and 5498 (2024)
Transfers

Generally, do not report a transfer between trustees or 

issuers that involves no payment or distribution of funds to 

the participant, including a trustee-to-trustee transfer from 

one IRA to another IRA, valid transfers from one section 

403(b) plan in accordance with paragraphs 1 through 3 of 

Regulations section 1.403(b)-10(b), or for the purchase of 

permissive service credit under section 403(b)(13) or section 

457(e)(17) in accordance with paragraph 4 of Regulations 

section 1.403(b)-10(b) and Regulations section 1.457-10(b)

(8). However, you must report:

• Recharacterized IRA contributions;

• Roth IRA conversions;

• Direct rollovers from qualified plans, section 403(b) plans, 

or governmental section 457(b) plans, including any direct 

rollovers from such plans that are IRRs or are qualified 

rollover contributions described in section 408A(e); and

• Direct payments from IRAs to accepting employer plans.

IRA recharacterizations. You must report each 

recharacterization of an IRA contribution. If a participant 

makes a contribution to an IRA (first IRA) for a year, the 

participant may choose to recharacterize the contribution by 

transferring, in a trustee-to-trustee transfer, any part of the 

contribution (plus earnings) to another IRA (second IRA). The 

contribution is treated as made to the second IRA 

(recharacterization). A recharacterization may be made with 

the same trustee or with another trustee. The trustee of the 

first IRA must report the recharacterization as a distribution 

on Form 1099-R and the contribution to the first IRA and its 

character on Form 5498.

Enter the fair market value (FMV) of the amount 

recharacterized in box 1, 0 (zero) in box 2a, and Code R in 

box 7 if reporting a recharacterization of a prior-year (2023) 

contribution or Code N if reporting a recharacterization of a 

contribution in the same year (2024). It is not necessary to 

check the IRA/SEP/SIMPLE checkbox. For more information 

on how to report, see Notice 2000-30 on page 1266 of I.R.B. 

2000-25 at IRS.gov/pub/irs-irbs/irb00-25.pdf.

No recharacterizations of conversions made in 2018 or 

later. A conversion of a traditional IRA to a Roth IRA, and a 

rollover from any other eligible retirement plan to a Roth IRA, 

made in the participant’s tax years beginning after December 

31, 2017, cannot be recharacterized as having been made to 

a traditional IRA.

Section 1035 exchange. You may have to report 

exchanges of insurance contracts, including an exchange 

under section 1035, under which any designated distribution 

may be made. For a section 1035 exchange that is in part 

taxable, file a separate Form 1099-R to report the taxable 

amount. See Section 1035 exchange, earlier.

SIMPLE IRAs. Do not report a trustee-to-trustee transfer 

from one SIMPLE IRA to another SIMPLE IRA. However, you 

must report as a taxable distribution in boxes 1 and 2a a 

trustee-to-trustee transfer from a SIMPLE IRA to an IRA that 

is not a SIMPLE IRA during the 2-year period beginning on 

the day contributions are first deposited in the individual's 

SIMPLE IRA by the employer. Use Code S in box 7, if 

appropriate.

Transfer of an IRA to spouse. If you transfer or 

re-designate an interest from one spouse's IRA to an IRA for 

the other spouse under a divorce or separation instrument, 

the transfer or re-designation, as provided under section 

408(d)(6), is tax free. Do not report such a transfer on Form 

1099-R.

Corrective Distributions

You must report on Form 1099-R corrective distributions of 

excess deferrals, excess contributions and excess aggregate 

contributions under section 401(a) plans, section 401(k) cash 

or deferred arrangements, section 403(a) annuity plans, 

section 403(b) salary reduction agreements, and salary 

reduction simplified employee pensions (SARSEPs) under 

section 408(k)(6). You must also report on Form 1099-R 

corrective IRA distributions made under section 408(d)(4). 

Excess contributions that are recharacterized under a section 

401(k) plan are treated as distributed. Corrective distributions 

must include earnings through the end of the year in which 

the excess arose. These distributions are reportable on Form 

1099-R and are generally taxable in the year of the 

distribution (except for excess deferrals under section 

402(g)). Enter Code 8 or P in box 7 (with Code B, if 

applicable) to designate the distribution and the year it is 

taxable.

Use a separate Form 1099-R to report a corrective 

distribution from a designated Roth account.

The total amount of the elective deferral is reported in 

box 12 of Form W-2. See the Instructions for Forms 

W-2 and W-3 for more information.

For more information about reporting corrective 

distributions, see Table 1; Notice 89-32, 1989-1 C.B. 671; 

Notice 88-33, 1988-1 C.B. 513; Notice 87-77, 1987-2 C.B. 

385; and the regulations under sections 401(k), 401(m), 

402(g), and 457.

Excess deferrals. Excess deferrals under section 402(g) 

can occur in section 401(k) plans, section 403(b) plans, or 

SARSEPs. If distributed by April 15 of the year following the 

year of deferral, the excess is taxable to the participant in the 

year of deferral (other than designated Roth contributions), 

but the earnings are taxable in the year distributed. Except for 

a SARSEP, if the distribution occurs after April 15, the excess 

is taxable in the year of deferral and the year distributed. The 

earnings are taxable in the year distributed. For a SARSEP, 

excess deferrals not withdrawn by April 15 are considered 

regular IRA contributions subject to the IRA contribution 

limits. Corrective distributions of excess deferrals are not 

subject to federal income tax withholding or social security 

and Medicare taxes. For losses on excess deferrals, see 

Losses, later. See Regulations section 1.457-4(e) for special 

rules relating to excess deferrals under governmental section 

457(b) plans.

Excess contributions. Excess contributions can occur in a 

section 401(k) plan or a SARSEP. All distributions of the 

excess contributions plus earnings (other than designated 

Roth contributions), including recharacterized excess 

contributions, are taxable to the participant in the year of 

distribution. Report the gross distribution in box 1 of Form 

1099-R. In box 2a, enter the excess contribution and 

earnings distributed less any designated Roth contributions. 

For a SARSEP, the employer must notify the participant by 

March 15 of the year after the year the excess contribution 

was made that the participant must withdraw the excess and 

earnings. All distributions from a SARSEP are taxable in the 

year of distribution. An excess contribution not withdrawn by 

April 15 of the year after the year of notification is considered 

a regular IRA contribution subject to the IRA contribution 

limits.

TIP

Instructions for Forms 1099-R and 5498 (2024) 7
The 10% additional tax on early distributions does not 

apply to an IRA distribution made pursuant to the rules of 

section 408(d)(4), consisting of a return of a contribution for 

that year and any earnings allocable to the contribution, as 

long as the distribution is made on or before the due date 

(including extensions) of the income tax return.

Regulations have not been updated for SARSEPs.

Excess aggregate contributions. Excess aggregate 

contributions under section 401(m) can occur in section 

401(a), section 401(k), section 403(a), and section 403(b) 

plans. In general, a corrective distribution of excess 

aggregate contributions plus earnings is taxable to the 

participant in the year the distribution was made. However, a 

corrective distribution of excess aggregate contributions is 

not includible in gross income (other than earnings) to the 

extent that it represents designated Roth contributions. See 

Treas. Reg. section 1.401(m)-2(b)(2)(vi)(C). Report the gross 

distribution in box 1 of Form 1099-R. In box 2a, enter the 

excess and earnings distributed less any after-tax 

contributions.

Losses. If a corrective distribution of an excess deferral is 

made in a year after the year of deferral and a net loss has 

been allocated to the excess deferral, report the corrective 

distribution amount in boxes 1 and 2a of Form 1099-R for the 

year of the distribution with the appropriate distribution code 

in box 7. If the excess deferrals consist of designated Roth 

contributions, report the corrective distribution amount in 

box 1, 0 (zero) in box 2a, and the appropriate distribution 

code in box 7. However, taxpayers must include the total 

amount of the excess deferral (unadjusted for loss) in income 

in the year of deferral, and they may report a loss on the tax 

return for the year the corrective distribution is made.

Distributions Under Employee Plans 

Compliance Resolution System (EPCRS)

The procedure for correcting excess annual additions under 

section 415 is explained in the latest EPCRS revenue 

procedure in section 6.06 of Rev. Proc. 2021-30, 2021-31 

I.R.B. 172, available at IRS.gov/irb/2021-31_IRB#REVPROC-2021-30.

Distributions to correct a section 415 failure are not eligible 

rollover distributions although they are subject to federal 

income tax withholding under section 3405. They are not 

subject to social security, Medicare, or Federal 

Unemployment Tax Act (FUTA) taxes. In addition, such 

distributions are not subject to the 10% additional tax under 

section 72(t).

You may report the distribution of elective deferrals (other 

than designated Roth contributions) and employee 

contributions (and earnings attributable to such elective 

deferrals and employee contributions) on the same Form 

1099-R. However, if you made other distributions during the 

year, report them on a separate Form 1099-R. Because the 

distribution of elective deferrals (other than designated Roth 

contributions) is fully taxable in the year distributed (no part of 

the distribution is a return of the investment in the contract), 

report the total amount of the distribution in boxes 1 and 2a. 

Leave box 5 blank, and enter Code E in box 7. For a return of 

employee contributions (or designated Roth contributions) 

plus earnings, enter the gross distribution in box 1, the 

earnings attributable to the employee contributions (or 

designated Roth contributions) being returned in box 2a, and 

CAUTION

!

the employee contributions (or designated Roth 

contributions) being returned in box 5. Enter Code E in box 7. 

For more information, see Rev. Proc. 92-93, 1992-2 C.B. 505.

Similar rules apply to other corrective distributions under 

EPCRS. Also, special Form 1099-R reporting is available for 

certain plan loan failures. See section 6.07 of Rev. Proc. 

2021-30 for details.

If excess employer contributions (other than elective 

deferrals), and the earnings on them, under SEP, SARSEP, or 

SIMPLE IRA plans are returned to an employer (with the 

participant's consent), enter the gross distribution (excess 

and earnings) in box 1 and 0 (zero) in box 2a. Enter Code E 

in box 7.

Failing the ADP or ACP Test After a Total 

Distribution

If you make a total distribution in 2024 and file a Form 1099-R 

with the IRS and then discover in 2025 that the plan failed 

either the section 401(k)(3) actual deferral percentage (ADP) 

test for 2024 and you compute excess contributions or the 

section 401(m)(2) actual contribution percentage (ACP) test 

and you compute excess aggregate contributions, you must 

recharacterize part of the total distribution as excess 

contributions or excess aggregate contributions. First, file a 

CORRECTED Form 1099-R for 2024 for the correct amount 

of the total distribution (not including the amount 

recharacterized as excess contributions or excess aggregate 

contributions). Second, file a new Form 1099-R for 2024 for 

the excess contributions or excess aggregate contributions 

and allocable earnings.

Note. To avoid a late filing penalty if the new Form 1099-R is 

filed after the due date, enter in the bottom margin of Form 

1096, Annual Summary and Transmittal of U.S. Information 

Returns, the words “Filed To Correct Excess Contributions.”

You must also issue copies of the Forms 1099-R to the 

plan participant with an explanation of why these new forms 

are being issued. ADP and ACP test corrective distributions 

are exempt from the 10% additional tax under section 72(t).

Loans Treated as Distributions

A loan from a qualified plan under section 401(a) or 403(a), 

from a section 403(b) plan, or from a plan, whether or not 

qualified, that is maintained by the United States, a state or 

political subdivision thereof, or any agency or instrumentality 

thereof, made to a participant or beneficiary is not treated as 

a distribution from the plan if the loan satisfies the following 

requirements.

1. The loan is evidenced by an enforceable agreement.

2. The agreement specifies that the loan must be repaid 

within 5 years, except for a principal residence.

3. The loan must be repaid in substantially level 

installments (at least quarterly).

4. The loan amount does not exceed the limits in section 

72(p)(2)(A) (maximum limit is equal to the lesser of 50% of 

the vested account balance or $50,000).

Certain exceptions, cure periods, and suspension of the 

repayment schedule may apply.

The loan agreement must specify the amount of the loan, 

the term of the loan, and the repayment schedule. The 

agreement may include more than one document.

If a loan fails to satisfy (1), (2), or (3), the balance of the 

loan is a deemed distribution. The distribution may occur at 

8 Instructions for Forms 1099-R and 5498 (2024)
the time the loan is made or later if the loan is not repaid in 

accordance with the repayment schedule.

If a loan fails to satisfy (4) at the time the loan is made, the 

amount that exceeds the amount permitted to be loaned is a 

deemed distribution.

Deemed distribution. If a loan is treated as a deemed 

distribution, it is reportable on Form 1099-R using the normal 

taxation rules of section 72, including tax basis rules. The 

distribution may also be subject to the 10% additional tax 

under section 72(t). It is not eligible to be rolled over to an 

eligible retirement plan nor is it eligible for the 10-year tax 

option. On Form 1099-R, complete the appropriate boxes, 

including boxes 1 and 2a, and enter Code L in box 7. Also, 

enter Code 1 or Code B, if applicable.

Interest that accrues after the deemed distribution of a 

loan is not an additional loan and, therefore, is not reportable 

on Form 1099-R.

Loans that are treated as deemed distributions or that are 

actual distributions are subject to federal income tax 

withholding. If such a distribution occurs after the loan is 

made, you must withhold only if you distributed cash or 

property (other than employer securities) at the time of the 

deemed or actual distribution. See section 72(p), section 

72(e)(4)(A), and Regulations section 1.72(p)-1.

Subsequent repayments. If a participant makes any cash 

repayments on a loan that was reported on Form 1099-R as a 

deemed distribution, the repayments increase the 

participant's tax basis in the plan as if the repayments were 

after-tax contributions. However, such repayments are not 

treated as after-tax contributions for purposes of section 

401(m) or 415(c)(2)(B).

For a deemed distribution that was reported on Form 

1099-R but was not repaid, the deemed distribution does not 

increase the participant's basis.

Plan loan offsets. If a participant's accrued benefit is 

reduced (offset) to repay a loan, the amount of the account 

balance that is offset against the loan is an actual distribution. 

Report it as you would any other actual distribution. Do not 

enter Code L in box 7.

A qualified plan loan offset is a type of plan loan offset that 

meets certain requirements. In order to be a qualified plan 

loan offset, the loan, at the time of the offset, must be a loan 

in good standing and the offset must be solely by reason of 

(1) the termination of the qualified employer plan, or (2) the 

failure to meet the repayment terms because the employee 

had a severance from employment. Report a qualified plan 

loan offset as you would any other actual distribution. In 

addition, enter Code M in box 7.

Permissible Withdrawals Under Section 414(w)

For permissible withdrawals from an eligible automatic 

contribution arrangement (EACA) under section 414(w):

• The distribution (except to the extent the distribution 

consists of designated Roth contributions) is included in the 

employee's gross income in the year distributed;

• Report principal and earnings in boxes 1 and 2a except, in 

the case of a distribution from a designated Roth account, 

report only earnings in box 2a;

• The distribution is not subject to the 10% additional tax 

under section 72(t), indicated by reporting Code 2 in box 7; 

and

• The distribution must be elected by the employee no later 

than 90 days after the first default elective contribution under 

the EACA, as specified in Regulations section 1.414(w)-1(c)

(2).

If the distribution is from a designated Roth account, enter 

Code B as well as Code 2 in box 7.

Corrected Form 1099-R

If you filed a Form 1099-R with the IRS and later discover that 

there is an error on it, you must correct it as soon as possible. 

For example, if you transmit a direct rollover and file a Form 

1099-R with the IRS reporting that none of the direct rollover 

is taxable by entering 0 (zero) in box 2a, and you then 

discover that part of the direct rollover consists of RMDs 

under section 401(a)(9), you must file a corrected Form 

1099-R reporting the eligible rollover distribution as the direct 

rollover and file a new Form 1099-R reporting the RMD as if it 

had been distributed to the participant. See part H in the 

current General Instructions for Certain Information Returns, 

or Pub. 1220, if filing electronically.

If you filed a Form 1099-R with the IRS reporting a 

payment of reportable death benefits, you must file a 

corrected return within 15 calendar days of recovering any 

portion of the reportable death benefits from the reportable 

death benefits payment recipient as a result of the rescission 

of the reportable policy sale.

If you furnished a statement to the reportable death 

benefits payment recipient, you must furnish the recipient 

with a corrected statement within 15 calendar days of 

recovering any portion of the reportable death benefits from 

the reportable death benefits payment recipient as a result of 

the rescission of the reportable policy sale.

Filer

The payer, trustee, or plan administrator must file Form 

1099-R using the same name and employer identification 

number (EIN) used to deposit any tax withheld and to file 

Form 945, Annual Return of Withheld Federal

Income Tax.

Beneficiaries

If you make a distribution to a beneficiary, trust, or estate, 

prepare Form 1099-R using the name and TIN of the 

beneficiary, trust, or estate, not that of the decedent. If there 

are multiple beneficiaries, report on each Form 1099-R only 

the amount paid to the beneficiary whose name appears on 

the Form 1099-R, and enter the percentage in box 9a, if 

applicable.

Disclaimers. A beneficiary may make a qualified disclaimer 

of all or some of an IRA account balance if the disclaimed 

amount and income are paid to a new beneficiary or 

segregated in a separate account. A qualified disclaimer may 

be made after the beneficiary has previously received the 

RMD for the year of the decedent's death. For more 

information, see Rev. Rul. 2005-36, 2005-26 I.R.B. 1368, 

available at IRS.gov/irb/2005-26_IRB#RR-2005-36.

Alternate Payee Under a QDRO

Distributions to an alternate payee who is a spouse or former 

spouse of the employee under a QDRO are reportable on 

Form 1099-R using the name and TIN of the alternate payee. 

If the alternate payee under a QDRO is a nonspouse, enter 

the name and TIN of the employee. However, this rule does 

not apply to IRAs; see Transfer of an IRA to spouse, earlier.

Instructions for Forms 1099-R and 5498 (2024) 9
Nonresident Aliens

If income tax is withheld under section 3405 on any 

distribution to a nonresident alien, report the distribution and 

withholding on Form 1099-R. Also, file Form 945 to report the 

withholding. See the presumption rules in part S of the 

current General Instructions for Certain Information Returns.

However, any payments to a nonresident alien from any 

trust under section 401(a); any annuity plan under section 

403(a); any annuity, custodial account, or retirement income 

account under section 403(b); or any IRA account under 

section 408(a) or (b) are subject to withholding under section 

1441, unless there is an exception under a tax treaty. Report 

the distribution and withholding on Form 1042, Annual 

Withholding Tax Return for U.S. Source Income of Foreign 

Persons, and Form 1042-S, Foreign Person's U.S. Source 

Income Subject to Withholding.

For guidance regarding covered expatriates, see Notice 

2009-85, 2009-45 I.R.B. 598, available at IRS.gov/irb/

2009-45_IRB#NOT-2009-85.

Statements to Recipients

If you are required to file Form 1099-R, you must furnish a 

statement to the recipient. For more information about the 

requirement to furnish a statement to each recipient, see part 

M in the current General Instructions for Certain Information 

Returns.

Truncating recipient's TIN on payee statements. 

Pursuant to Regulations section 301.6109-4, all filers of Form 

1099-R may truncate a recipient’s TIN (social security 

number (SSN), individual taxpayer identification number 

(ITIN), adoption taxpayer identification number (ATIN), or 

employer identification number (EIN)) on payee statements. 

Truncation is not allowed on any documents the filer files with 

the IRS. A payer's TIN may not be truncated on any form. See 

part J in the current General Instructions for Certain 

Information Returns for more information.

Do not enter a negative amount in any box on Form 

1099-R.

Account Number

The account number is required if you have multiple accounts 

for a recipient for whom you are filing more than one Form 

1099-R.

The account number is also required if you check the 

“FATCA filing requirement” box. See Box 12. FATCA Filing 

Requirement Checkbox, later.

Additionally, the IRS encourages you to designate an 

account number for all Forms 1099-R that you file. See part L 

in the current General Instructions for Certain Information 

Returns.

The policy number of the life insurance contract under 

which benefits are paid is required if you are reporting a 

payment of reportable death benefits.

Box 1. Gross Distribution

Enter the total amount of the distribution before income tax or 

other deductions were withheld. Include direct rollovers, IRA 

direct payments to accepting employer plans, 

recharacterized IRA contributions, Roth IRA conversions, and 

premiums paid by a trustee or custodian for the cost of 

current life or other insurance protection. Also, include in this 

TIP

box distributions to plan participants from governmental 

section 457(b) plans. However, in the case of a distribution by 

a trust representing certificates of deposit (CDs) redeemed 

early, report the net amount distributed. Also, see Box 6, 

later.

For a distribution from a traditional IRA of assets that do 

not have a readily available FMV, enter Code K in box 7.

Include in this box the value of U.S. Savings Bonds 

distributed from a plan. Enter the appropriate taxable amount 

in box 2a. Furnish a statement to the plan participant showing 

the value of each bond at the time of distribution. This will 

provide them with the information necessary to figure the 

interest income on each bond when it is redeemed.

Include in box 1 amounts distributed from a qualified 

retirement plan for which the recipient elects to pay health 

insurance premiums under a cafeteria plan or that are paid 

directly to reimburse medical care expenses incurred by the 

recipient (see Rev. Rul. 2003-62 on page 1034 of I.R.B. 

2003-25 at IRS.gov/pub/irs-irbs/irb03-25.pdf). Also, include 

this amount in box 2a.

Include in box 1 charges or payments for qualified 

long-term care insurance contracts under combined 

arrangements. Enter Code W in box 7.

In addition to reporting distributions to beneficiaries of 

deceased employees, report here any death benefit 

payments made by employers that are not made as part of a 

pension, profit-sharing, or retirement plan. Also, enter these 

amounts in box 2a; enter Code 4 in box 7.

Do not report accelerated death benefits on Form 

1099-R. Report them on Form 1099-LTC, Long-Term 

Care and Accelerated Death Benefits.

Include in box 1 the amount of any payment of reportable 

death benefits.

For section 1035 exchanges that are reportable on Form 

1099-R, enter the total value of the contract in box 1, 0 (zero) 

in box 2a, the total premiums paid in box 5, and Code 6 in 

box 7.

Designated Roth account distributions. If you are making 

a distribution from a designated Roth account, enter the 

gross distribution in box 1, the taxable portion of the 

distribution in box 2a, the basis included in the distributed 

amount in box 5, any amount allocable to an IRR made within 

the previous 5 years (unless an exception to section 72(t) 

applies) in box 10, and the first year of the 5-tax-year period 

for determining qualified distributions in box 11. Also, enter 

the applicable code(s) in box 7.

Roth SEP IRAs and Roth SIMPLE IRAs. Employer 

matching and nonelective contributions made to a Roth SEP 

or Roth SIMPLE IRA must be reported for the year in which 

the contributions are made to the employee's Roth IRA, with 

the total reported in boxes 1 and 2a, using code 2 or 7 in 

box 7 and the IRA/SEP/SIMPLE checkbox in box 7 checked.

Employer securities and other property. If you distribute 

employer securities or other property, include in box 1 the 

FMV of the securities or other property on the date of 

distribution. If there is a loss, see Losses, later.

If you are distributing worthless property only, you are not 

required to file Form 1099-R. However, you may file and enter 

0 (zero) in boxes 1 and 2a and any after-tax employee 

contributions or designated Roth contributions in box 5.

CAUTION

!

10 Instructions for Forms 1099-R and 5498 (2024)
Charitable gift annuities. If cash or capital gain property is 

donated in exchange for a charitable gift annuity, report the 

total amount distributed during the year in box 1. See 

Charitable gift annuities under Box 3. Capital Gain (Included 

in Box 2a), later.

FFIs reporting in a manner similar to section 6047(d). If 

you are a participating FFI electing to report with respect to a 

cash value insurance contract or annuity contract that is a 

U.S. account held by a specified U.S. person in a manner 

similar to section 6047(d), include in box 1 any amount paid 

under the contract during the reporting period (that is, the 

calendar year or the year ending on the most recent contract 

anniversary date).

Do not report the account balance or value (as of the 

end of the reporting period) in box 1. Participating 

FFIs reporting in a manner similar to section 6047(d) 

should check the Recent Developments section for Form 

1099-R at IRS.gov/Form1099R before filing for 2024.

Box 2a. Taxable Amount

When determining the taxable amount to be entered 

in box 2a, do not reduce the taxable amount by any 

portion of the $3,000 exclusion for which the 

participant may be eligible as a payment of qualified health 

and long-term care insurance premiums for retired public 

safety officers under section 402(l).

Generally, you must enter the taxable amount in box 2a. 

However, if you are unable to reasonably obtain the data 

needed to compute the taxable amount, leave this box blank. 

Except as provided under Box 6, later, do not enter 

excludable or tax-deferred amounts reportable in boxes 5, 6, 

and 8. Enter 0 (zero) in box 2a for:

• A direct rollover (other than an IRR) from a qualified plan, a 

section 403(b) plan, or a governmental section 457(b) plan to 

another such plan or to a traditional IRA;

• A direct rollover from a designated Roth account to a Roth 

IRA;

• An amount from a traditional, SEP, or SIMPLE IRA directly 

transferred to an accepting employer plan;

• An IRA recharacterization;

• A nontaxable section 1035 exchange of life insurance, 

annuity, endowment, or long-term care insurance contracts; 

or

• A nontaxable charge or payment, for the purchase of a 

qualified long-term care insurance contract, against the cash 

value of an annuity contract or the cash surrender value of a 

life insurance contract.

Annuity starting date in 1998 or later. If you made annuity 

payments from a qualified plan under section 401(a), 403(a), 

or 403(b) and the annuity starting date is in 1998 or later, you 

must use the simplified method under section 72(d)(1) to 

figure the taxable amount. Under this method, the expected 

number of payments you use to figure the taxable amount 

depends on whether the payments are based on the life of 

one or more than one person. See Notice 98-2, 1998-1 C.B. 

266, and Pub. 575, Pension and Annuity Income, to help you 

figure the taxable amount to enter in box 2a.

Annuity starting date after November 18, 1996, and before 1998. Under the simplified method for figuring the 

taxable amount, the expected number of payments is based 

only on the primary annuitant's age on the annuity starting 

date. See Notice 98-2.

CAUTION

!

CAUTION

!

Annuity starting date before November 19, 1996. If you 

properly used the rules in effect before November 19, 1996, 

for annuities that started before that date, continue to report 

using those rules. No changes are necessary.

Corrective distributions. Enter in box 2a the amount of 

excess deferrals, excess contributions, or excess aggregate 

contributions (other than employee contributions or 

designated Roth contributions). See Corrective Distributions, 

earlier.

Cost of current life insurance protection. Include current 

life insurance protection costs (net premium costs) that were 

reported in box 1. However, do not report these costs and a 

distribution on the same Form 1099-R. Use a separate Form 

1099-R for each. For the cost of current life insurance 

protection, enter Code 9 in box 7.

DVECs. Include DVEC distributions in this box. Also, see 

Deductible Voluntary Employee Contributions (DVECs), 

earlier.

Designated Roth account. Generally, a distribution from a 

designated Roth account that is not a qualified distribution is 

taxable to the recipient under section 402 in the case of a 

plan qualified under section 401(a), under section 403(b)(1) 

in the case of a section 403(b) plan, and under section 

457(a)(1)(A) in the case of a governmental section 457(b) 

plan. For purposes of section 72, designated Roth 

contributions are treated as employer contributions, as 

described in section 72(f)(1) (that is, as includible in the 

participant's gross income).

Examples. Participant A received a nonqualified 

distribution of $5,000 from the participant's designated Roth 

account. Immediately before the distribution, the participant's 

account balance was $10,000, consisting of $9,400 of 

designated Roth contributions and $600 of earnings. The 

taxable amount of the $5,000 distribution is $300 

($600/$10,000 x $5,000). The nontaxable portion of the 

distribution is $4,700 ($9,400/$10,000 x $5,000). The issuer 

would report on Form 1099-R:

• Box 1, $5,000 as the gross distribution;

• Box 2a, $300 as the taxable amount;

• Box 4, $60 ($300 x 20% (0.20) as the withholding on the 

earnings portion of the distribution;

• Box 5, $4,700 as the designated Roth contribution basis 

(nontaxable amount);

• Box 7, Code B; and

• The first year of the 5-tax-year period in box 11.

Using the same facts as in the example above, except that 

the distribution was a direct rollover to a Roth IRA, the issuer 

would report on Form 1099-R:

• Box 1, $5,000 as the gross distribution;

• Box 2a, 0 (zero) as the taxable amount;

• Box 4, no entry;

• Box 5, $4,700 as the designated Roth contribution basis 

(nontaxable amount);

• Box 7, Code H; and

• The first year of the 5-tax-year period in box 11.

Disability retirement annuity. If annuity payments are 

made under a workers’ compensation act or under a statute 

in the nature of a workers’ compensation act, as 

compensation for personal injuries or sickness incurred 

during the course of employment, and a portion of the annuity 

payments are based on age or length of service under the 

retirement plan, enter the taxable portion of the annuity in 

Instructions for Forms 1099-R and 5498 (2024) 11
box 2a. See Rev. Rul. 85-105, 1985-2 C.B. 53. Enter 

distribution code 3 in box 7.

Losses. If a distribution is a loss, do not enter a negative 

amount in this box. For example, if an employee's 401(k) 

account balance, consisting solely of stock, is distributed but 

the value is less than the employee's remaining after-tax 

contributions or designated Roth contributions, enter the 

value of the stock in box 1, leave box 2a blank, and enter the 

employee's contributions or designated Roth contributions in 

box 5.

For a plan with no after-tax contributions or designated 

Roth contributions, even though the value of the account may 

have decreased, there is no loss for reporting purposes. 

Therefore, if there are no employer securities distributed, 

show the actual cash and/or FMV of property distributed in 

boxes 1 and 2a, and make no entry in box 5. If only employer 

securities are distributed, show the FMV of the securities in 

boxes 1 and 2a and make no entry in box 5 or 6. If both 

employer securities and cash or other property are 

distributed, show the actual cash and/or FMV of the property 

(including employer securities) distributed in box 1, the gross 

less any NUA on employer securities in box 2a (except as 

provided under Box 6. Net Unrealized Appreciation (NUA) in 

Employer’s Securities, later), no entry in box 5, and any NUA 

in box 6.

Roth IRA. For a distribution from a Roth IRA, report the total 

distribution in box 1 and leave box 2a blank except in the 

case of an IRA revocation or account closure and a 

recharacterization, earlier. Use Code J, Q, or T as 

appropriate in box 7. Use Code 8 or P, if applicable, in box 7 

with Code J. Do not combine Code Q or T with any other 

codes.

However, for the distribution of excess Roth IRA 

contributions, report the gross distribution in box 1 and only 

the earnings in box 2a. Enter Code J and Code 8 or P in 

box 7.

Roth IRA conversions. Report the total amount converted 

from a traditional IRA, SEP IRA, or SIMPLE IRA to a Roth IRA 

in box 2a. Check the “Taxable amount not determined” box in 

box 2b. A conversion is considered a distribution and must be 

reported even if it is with the same trustee and even if the 

conversion is done by a trustee-to-trustee transfer. When an 

individual retirement annuity described in section 408(b) is 

converted to a Roth IRA, the amount that is treated as 

distributed is the FMV of the annuity contract on the date the 

annuity contract is converted. This rule also applies when a 

traditional IRA holds an annuity contract as an account asset 

and the traditional IRA is converted to a Roth IRA. 

Determining the FMV of an individual retirement annuity 

issued by a company regularly engaged in the selling of 

contracts depends on the timing of the conversion as outlined 

in Q/A-14 of Regulations section 1.408A-4.

For a Roth IRA conversion, use Code 2 in box 7 if the 

participant is under age 591/2 or Code 7 if the participant is at 

least age 591/2. Also, check the IRA/SEP/SIMPLE checkbox 

in box 7.

Roth SEP IRAs and Roth SIMPLE IRAs. Employer 

matching and nonelective contributions made to a Roth SEP 

or Roth SIMPLE IRA must be reported for the year in which 

the contributions are made to the employee's Roth IRA, with 

the total reported in boxes 1 and 2a, using code 2 or 7 in 

box 7 and the IRA/SEP/SIMPLE checkbox in box 7 checked.

Traditional, SEP, or SIMPLE IRA. Generally, you are not 

required to compute the taxable amount of a traditional, SEP, 

or SIMPLE IRA or designate whether any part of a 

distribution is a return of basis attributable to nondeductible 

contributions. Therefore, except as provided below or 

elsewhere in these instructions, report the total amount 

distributed from a traditional, SEP, or SIMPLE IRA in box 2a. 

This will be the same amount reported in box 1. Check the 

“Taxable amount not determined” box in box 2b.

• For a distribution by a trust representing CDs redeemed 

early, report the net amount distributed. Do not include any 

amount paid for IRA insurance protection in this box.

• For a distribution of contributions plus earnings from an 

IRA before the due date of the return under section 408(d)(4), 

report the gross distribution in box 1, only the earnings in 

box 2a, and enter Code 8 or P, whichever is applicable, in 

box 7. Also, enter Code 1 or 4, if applicable.

• For a distribution of excess contributions without earnings 

after the due date of the individual's return under section 

408(d)(5), leave box 2a blank, and check the “Taxable 

amount not determined” box in box 2b. Use Code 1 or 7 in 

box 7 depending on the age of the participant.

• For an amount in a traditional IRA or a SEP IRA paid 

directly to an accepting employer plan, or an amount in a 

SIMPLE IRA paid directly to an accepting employer plan after 

the first 2 years of plan participation, enter the gross amount 

in box 1, 0 (zero) in box 2a, and Code G in box 7.

Box 2b. Taxable Amount Not Determined

Enter an “X” in this box if you are unable to reasonably obtain 

the data needed to compute the taxable amount.

In addition, enter an “X” in this box if you are an FFI 

reporting in box 1 to satisfy your chapter 4 reporting 

requirement under the election described in Regulations 

section 1.1471-4(d)(5)(i)(B).

If you check this box, leave box 2a blank; but see 

Traditional, SEP, or SIMPLE IRA, earlier. Except for IRAs, 

make every effort to compute the taxable amount.

Box 2b. Total Distribution

Enter an “X” in this box only if the payment shown in box 1 is 

a total distribution. A total distribution is one or more 

distributions within 1 tax year in which the entire balance of 

the account is distributed. If periodic or installment payments 

are made, mark this box in the year the final payment is 

made.

Box 3. Capital Gain (Included in Box 2a)

If any amount is taxable as a capital gain, report it in box 3.

Charitable gift annuities. Report in box 3 any amount from 

a charitable gift annuity that is taxable as a capital gain. 

Report in box 1 the total amount distributed during the year. 

Report in box 2a the taxable amount. Advise the annuity 

recipient of any amount in box 3 subject to the 28% rate gain 

for collectibles and any unrecaptured section 1250 gain. 

Report in box 5 any nontaxable amount. Enter Code F in 

box 7. See Regulations section 1.1011-2(c), Example 8.

Special rule for participants born before January 2, 

1936 (or their beneficiaries). For lump-sum distributions 

from qualified plans only, enter the amount in box 2a eligible 

for the capital gain election under section 1122(h)(3) of the 

Tax Reform Act of 1986 and section 641(f)(3) of the 

Economic Growth and Tax Relief Reconciliation Act of 2001. 

12 Instructions for Forms 1099-R and 5498 (2024)
Enter the full amount eligible for the capital gain election. You 

should not complete this box for a direct rollover.

To compute the months of an employee's active 

participation before 1974, count as 12 months any part of a 

calendar year in which an employee actively participated 

under the plan; for active participation after 1973, count as 1 

month any part of a month in which the employee actively 

participated under the plan. See the Example, later.

Active participation begins with the first month in which an 

employee became a participant under the plan and ends with 

the earliest of:

• The month in which the employee received a lump-sum 

distribution under the plan;

• For an employee, other than a self-employed person or 

owner-employee, the month in which the employee separates 

from service;

• The month in which the employee dies; or

• For a self-employed person or owner-employee, the first 

month in which the employee becomes disabled within the 

meaning of section 72(m)(7).

Example. 

Method for Computing Amount Eligible for 

Capital Gain Election (See Box 3. Capital Gain 

(Included in Box 2a), earlier.)

Step 1. Total Taxable Amount

A. Total distribution XXXXX

B. Less:

 1. Current actuarial value of any annuity XXXX

 2. Employee contributions or designated Roth 

contributions (minus any amounts previously 

distributed that were not includible in the 

employee's gross income) XXXX

 3. Net unrealized appreciation in the value of any 

employer securities that was a part of the 

lump-sum distribution XXXX

C. Total of lines 1 through 3 XXXXX

D. Total taxable amount. Subtract line C from line 

A.

XXXXX

Step 2. Capital Gain

Total taxable 

amount

Months of active

participation before 1974

line D X ____________________ = Capital gain

Total months of active

participation

Box 4. Federal Income Tax Withheld

Enter any federal income tax withheld. This withholding 

under section 3405 is subject to deposit rules and the 

withholding tax return is Form 945. Backup withholding does 

not apply. See Pub. 15-A, Employer's Supplemental Tax 

Guide, and the Instructions for Form 945 for more withholding 

information.

Even though you may be using Code 1 in box 7 to 

designate an early distribution subject to the 10% additional 

tax specified in section 72(q), (t), or (v), you are not required 

to withhold that tax.

The amount withheld cannot be more than the sum of 

the cash and the FMV of property (excluding 

employer securities) received in the distribution. If a 

distribution consists solely of employer securities and cash 

($200 or less) in lieu of fractional shares, no withholding is 

required.

To determine your withholding requirements for any 

designated distribution under section 3405, you must first 

determine whether the distribution is an eligible rollover 

distribution. See Direct Rollovers, earlier, for a discussion of 

eligible rollover distributions. If the distribution is not an 

eligible rollover distribution, the rules for periodic payments or 

nonperiodic distributions apply. For purposes of withholding, 

distributions from any IRA are not eligible rollover 

distributions.

Eligible rollover distribution; 20% withholding. If an 

eligible rollover distribution is paid directly to an eligible 

retirement plan in a direct rollover, do not withhold federal 

income tax. If any part of an eligible rollover distribution is not 

a direct rollover, you must withhold 20% of the part that is 

paid to the recipient and includible in gross income. This 

includes the earnings portion of any nonqualified designated 

Roth account distribution that is not directly rolled over. The 

recipient cannot claim exemption from the 20% withholding 

but may ask to have additional amounts withheld on Form 

W-4P, Withholding Certificate for Pension or Annuity 

Payments. If the recipient is not asking that additional 

amounts be withheld, Form W-4P is not required for an 

eligible rollover distribution because 20% withholding is 

mandatory.

Employer securities and plan loan offset amounts that are 

part of an eligible rollover distribution must be included in the 

amount multiplied by 20% (0.20). However, the actual 

amount to be withheld cannot be more than the sum of the 

cash and the FMV of property (excluding employer securities 

and plan loan offset amounts). For example, if the only part of 

an eligible rollover distribution that is not a direct rollover is 

employer securities or a plan loan offset amount, no 

withholding is required. However, unless otherwise exempt, 

any cash that is paid in the distribution must be used to 

satisfy the withholding on the employer securities or plan loan 

offset amount.

Depending on the type of plan or arrangement, the payer 

or, in some cases, the plan administrator is required to 

withhold 20% of eligible rollover distributions from a qualified 

plan's distributed annuity and on eligible rollover distributions 

from a governmental section 457(b) plan. For additional 

information, see section 3405(d) and Regulations sections 

35.3405-1T, Q/A A-13; and 31.3405(c)-1, Q/A-4 and -5. For 

governmental section 457(b) plans only, see Notice 2003-20 

on page 894 of I.R.B. 2003-19.

Any NUA excludable from gross income under section 

402(e)(4) is not included in the amount of any eligible rollover 

distribution that is subject to 20% withholding.

You are not required to withhold 20% of an eligible rollover 

distribution that, when aggregated with other eligible rollover 

distributions made to one person during the year, is less than 

$200.

IRAs. The 20% withholding does not apply to distributions 

from any IRA, but withholding does apply to IRAs under the 

rules for periodic payments and nonperiodic distributions. For 

withholding, assume that the entire amount of a distribution 

from an IRA other than a Roth IRA is taxable (except for the 

distribution of contributions under section 408(d)(4), in which 

TIP

Instructions for Forms 1099-R and 5498 (2024) 13
only the earnings are taxable, and section 408(d)(5), as 

applicable). Generally, Roth IRA distributions are not subject 

to withholding except on the earnings portion of excess 

contributions distributed under section 408(d)(4).

An IRA recharacterization is not subject to income tax 

withholding.

Periodic payments. For periodic payments that are not 

eligible rollover distributions, withhold on the taxable part as 

though the periodic payments were wages, based on the 

recipient's Form W-4P. The recipient may request additional 

withholding on Form W-4P or claim exemption from 

withholding. If a recipient does not submit a Form W-4P, 

withhold by treating the recipient as single with no 

adjustments. See Regulations section 35.3405-1T, Q/A A-9, 

for a definition of periodic payments. See Pub. 15-A for 

additional information regarding withholding on periodic 

payments and Pub. 15-T for applicable tables used to 

determine withholding on periodic payments.

Rather than Form W-4P, military retirees should give 

you Form W-4, Employee's Withholding Certificate.

Nonperiodic distributions. Withhold 10% of the taxable 

part of a nonperiodic distribution that is not an eligible rollover 

distribution. In most cases, designated distributions from any 

IRA are treated as nonperiodic distributions subject to 

withholding at the 10% rate even if the distributions are paid 

over a periodic basis. See Regulations section 35.3405-1T, 

Q/A F-15. The recipient may request additional withholding 

on Form W-4R or claim exemption from withholding. For 

more information on nonperiodic distributions and 

withholding, see Regulations section 35-3405-1T, Q/A A-12, 

and parts C, D, and F.

Failure to provide TIN. For periodic payments and 

nonperiodic distributions, if a payee fails to furnish their 

correct TIN to you in the manner required, or if the IRS 

notifies you before any distribution that the TIN furnished is 

incorrect, a payee cannot claim exemption from withholding. 

For periodic payments, withhold as if the payee was single 

claiming no withholding allowances. For nonperiodic 

payments, withhold 10%. Backup withholding does not apply.

Box 5. Employee Contributions/Designated Roth 

Account Contributions or Insurance Premiums

Enter the employee's contributions, designated Roth account 

contributions, or insurance premiums that the employee may 

recover tax free this year (even if they exceed the box 1 

amount). The entry in box 5 may include any of the following: 

(a) designated Roth account contributions or contributions 

actually made on behalf of the employee over the years 

under the plan that were required to be included in the 

income of the employee when contributed (after-tax 

contributions), (b) contributions made by the employer but 

considered to have been contributed by the employee under 

section 72(f), (c) the accumulated cost of premiums paid for 

life insurance protection taxable to the employee in previous 

years and in the current year under Regulations section 

1.72-16 (cost of current life insurance protection) (only if the 

life insurance contract itself is distributed), and (d) premiums 

paid on commercial annuities. Do not include any DVECs, 

any elective deferrals, or any contribution to a retirement plan 

that was not an after-tax contribution.

Generally, for qualified plans, section 403(b) plans, and 

nonqualified commercial annuities, enter in box 5 the 

TIP

employee contributions or insurance premiums recovered tax 

free during the year based on the method you used to 

determine the taxable amount to be entered in box 2a. On a 

separate Form 1099-R, include the portion of the employee's 

basis that has been distributed from a designated Roth 

account. See the Examples in the instructions for box 2a, 

earlier.

If periodic payments began before 1993, you are not 

required, but you are encouraged, to report in box 5.

If you made periodic payments from a qualified plan 

and the annuity starting date is after November 18, 

1996, you must use the simplified method to figure 

the tax-free amount each year. See Annuity starting date in 

1998 or later, earlier.

If a total distribution is made, the total employee 

contributions or insurance premiums available to be 

recovered tax free must be shown only in box 5. If any 

previous distributions were made, any amount recovered tax 

free in prior years must not appear in box 5.

For payments of reportable death benefits, enter your 

estimate of the buyer’s investment in the contract in box 5.

If you are unable to reasonably obtain the data necessary 

to compute the taxable amount, leave box 2a blank, leave 

box 5 blank (except in the case of a payment of reportable 

death benefits), and check the first box in box 2b. In the case 

of a payment of reportable death benefits, box 5 must be 

completed.

For more information, see Rev. Proc. 92-86, 1992-2 C.B. 

495, and section 72(d).

For reporting charitable gift annuities, see Charitable gift 

annuities, earlier.

Box 6. Net Unrealized Appreciation (NUA) in 

Employer's Securities

Use this box if a distribution from a qualified plan (except a 

qualified distribution from a designated Roth account) 

includes securities of the employer corporation (or a 

subsidiary or parent corporation) and you can compute the 

NUA in the employer's securities. Enter all the NUA in 

employer securities if this is a lump-sum distribution. If this is 

not a lump-sum distribution, enter only the NUA in employer 

securities attributable to employee contributions. See 

Regulations section 1.402(a)-1(b) for the determination of the 

NUA. Also, see Notice 89-25, Q/A-1, 1989-1 C.B. 662. 

Include the NUA in box 1 but not in box 2a except in the case 

of a direct rollover to a Roth IRA or a designated Roth 

account in the same plan (see Notice 2009-75, Q/A-1, and 

Notice 2010-84, Q/A-7). You do not have to complete this box 

for a direct rollover.

Box 7. Distribution Code(s)

Enter an “X” in the IRA/SEP/SIMPLE checkbox if the 

distribution is from a traditional IRA, SEP IRA, or SIMPLE 

IRA. Do not check the box for a distribution from a Roth IRA 

or for an IRA recharacterization.

Enter the appropriate code(s) in box 7. Use Table 1 to 

determine the appropriate code(s) to enter in box 7 for any 

amounts reported on Form 1099-R. Read the codes carefully 

and enter them accurately because the IRS uses the codes 

to help determine whether the recipient has properly reported 

the distribution. If the codes you enter are incorrect, the IRS 

may improperly propose changes to the recipient's taxes.

CAUTION

!

14 Instructions for Forms 1099-R and 5498 (2024)
When applicable, enter a numeric and an alpha code. For 

example, when using Code P for a traditional IRA distribution 

under section 408(d)(4), you must also enter Code 1, if it 

applies. For a normal distribution from a qualified plan that 

qualifies for the 10-year tax option, enter Codes 7 and A. For 

a direct rollover to an IRA or a qualified plan for the surviving 

spouse of a deceased participant, or on behalf of a 

nonspouse designated beneficiary, enter Codes 4 and G 

(Codes 4 and H if from a designated Roth account to a Roth 

IRA). If two or more distribution codes are not valid 

combinations, you must file more than one Form 1099-R.

Enter a maximum of two alphanumeric codes in 

box 7. See Table 1 for allowable combinations. Only 

three numeric combinations are permitted on one 

Form 1099-R: Codes 8 and 1, 8 and 2, or 8 and 4. If two or 

more other numeric codes are applicable, you must file more 

than one Form 1099-R. For example, if part of a distribution is 

premature (Code 1) and part is not (Code 7), file one Form 

1099-R for the part to which Code 1 applies and another 

Form 1099-R for the part to which Code 7 applies. In 

addition, for the distribution of excess deferrals, parts of the 

distribution may be taxable in 2 different years. File separate 

Forms 1099-R using Code 8 or P to indicate the year the 

amount is taxable.

If a qualified plan loan offset occurs in a designated 

Roth account (Codes M and B), or a loan is treated 

as a deemed distribution under section 72(p) (Codes 

L and B) and a numeric code is needed to indicate whether 

the recipient is subject to the 10% tax under section 72(t), 

omit Code M or L, as applicable.

Even if the employee/taxpayer is age 591/2 or over, use 

Code 1 if a series of substantially equal periodic payments 

was modified within 5 years of the date of the first payment 

(within the meaning of section 72(q)(3) or (t)(4)), if you have 

been reporting distributions in previous years using Code 2.

For example, Jordan began receiving payments that 

qualified for the exception for part of a series of substantially 

equal periodic payments under section 72(t)(2)(A)(iv) when 

they were 57. When they were 61, Jordan modified the 

payments. Because the payments were modified within 5 

years, use Code 1 in the year the payments were modified, 

even though Jordan is over 591/2.

If you do not know that the taxpayer meets the 

requirements for substantially equal periodic payments under 

section 72(t)(2)(A)(iv), use Code 1 to report the payments.

For further guidance on what makes a series of 

substantially equal periodic payments, see Notice 

2022-6, 2022-05 I.R.B. 460. Note that section 72(t)

(2)(A) generally provides that periodic payments will not fail 

to be treated as substantially equal merely because they are 

amounts received as an annuity, and that periodic payments 

shall be deemed to be substantially equal if they are payable 

over a period described in section 72(t)(2)(A)(iv) and satisfy 

the requirements for annuity payments under section 401(a)

(9).

If part of a distribution is paid in a direct rollover and part is 

not, you must file a separate Form 1099-R for each part 

showing the appropriate code on each form.

Governmental section 457(b) plan distributions. 

Generally, a distribution from a governmental section 457(b) 

plan is not subject to the 10% additional tax under section 

72(t). However, an early distribution from a governmental 

CAUTION

!

CAUTION

!

CAUTION

!

section 457(b) plan of an amount that is attributable to a 

rollover from another type of eligible retirement plan or IRA is 

subject to the additional tax as if the distribution were from a 

plan described in section 401(a). See section 72(t)(9). If the 

distribution consists solely of amounts that are not 

attributable to such a rollover, enter Code 2 in box 7. If the 

distribution consists solely of amounts attributable to such a 

rollover, then enter the appropriate code in box 7 as if the 

distribution were from a plan described in section 401(a). If 

the distribution is made up of amounts from both sources, 

you must file separate Forms 1099-R for each part of the 

distribution unless Code 2 would be entered on

each form.

Roth SEP IRAs and Roth SIMPLE IRAs. Employer 

matching and nonelective contributions made to a Roth SEP 

or Roth SIMPLE IRA must be reported for the year in which 

the contributions are made to the employee's Roth IRA, with 

the total reported in boxes 1 and 2a, using code 2 or 7 in 

box 7 and the IRA/SEP/SIMPLE checkbox in box 7 checked.

Box 8. Other

Enter the current actuarial value of an annuity contract that is 

part of a lump-sum distribution. Do not include this item in 

boxes 1 and 2a.

To determine the value of an annuity contract, show the 

value as an amount equal to the current actuarial value of the 

annuity contract, reduced by an amount equal to the excess 

of the employee's contributions over the cash and other 

property (not including the annuity contract) distributed.

If an annuity contract is part of a multiple recipient 

lump-sum distribution, enter in box 8, along with the current 

actuarial value, the percentage of the total annuity contract 

each Form 1099-R represents.

Also, enter in box 8 the amount of the reduction in the 

investment (but not below 0 (zero)) against the cash value of 

an annuity contract or the cash surrender value of a life 

insurance contract due to charges or payments for qualified 

long-term care insurance contracts.

Box 9a. Your Percentage of Total Distribution

If this is a total distribution and it is made to more than one 

person, enter the percentage received by the person whose 

name appears on Form 1099-R. You need not complete this 

box for any IRA distributions or for a direct rollover.

Box 9b. Total Employee Contributions

You are not required to enter the total employee contributions 

or designated Roth contributions in box 9b. However, 

because this information may be helpful to the recipient, you 

may choose to report them.

If you choose to report the total employee contributions or 

designated Roth contributions, do not include any amounts 

recovered tax free in prior years. For a total distribution, 

report the total employee contributions or designated Roth 

contributions in box 5 rather than in box 9b.

Box 10. Amount Allocable to IRR Within 5 Years

Enter the amount of the distribution allocable to an IRR made 

within the 5-year period beginning with the first day of the 

year in which the rollover was made. Do not complete this 

box if an exception under section 72(t) applies.

For further guidance on determining amounts allocable to 

an IRR, see Notice 2010-84, Q/A-13.

Instructions for Forms 1099-R and 5498 (2024) 15
Box 11. First Year of Desig. Roth Contrib.

Enter the first year of the 5-tax-year period. This is the year in 

which the designated Roth account was first established by 

the recipient.

Box 12. FATCA Filing Requirement Checkbox

Check the box if you are an FFI reporting a cash value 

insurance contract or annuity contract that is a U.S. account 

in a manner similar to that required under section 6047(d). 

See Regulations section 1.1471-4(d)(5)(i)(B) for this election. 

In addition, check the box if you are a U.S. payer that is 

reporting on Form 1099-R as part of satisfying your 

requirement to report with respect to a U.S. account for 

chapter 4 purposes, as described in Regulations section 

1.1471-4(d)(2)(iii)(A).

Box 13. Date of Payment

Enter here the date payment was made for reportable death 

benefits under section 6050Y.

Boxes 14–19. State and Local Information

These boxes and Copies 1 and 2 are provided for your 

convenience only and need not be completed for the IRS. 

Use the state and local information boxes to report 

distributions and taxes for up to two states or localities. Keep 

the information for each state or locality separated by the 

broken line. If state or local income tax has been withheld on 

this distribution, you may enter it in boxes 14 and 17, as 

appropriate. In box 15, enter the abbreviated name of the 

state and the payer's state identification number. The state 

number is the payer's identification number assigned by the 

individual state. In box 18, enter the name of the locality. In 

boxes 16 and 19, you may enter the amount of the state or 

local distribution. Copy 1 may be used to provide information 

to the state or local tax department. Copy 2 may be used as 

the recipient's copy in filing a state or local income tax return. 

Table 1. Guide to Distribution Codes

Guide to Distribution Codes

Distribution Codes Explanations *Used with code (if 

applicable)

1—Early distribution, no known exception. Use Code 1 only if the participant has not reached age 591/2, and you do not 

know 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, a qualified 

reservist distribution, a qualified birth or adoption distribution, an emergency 

personal expense distribution, a terminally ill individual distribution, or an eligible 

distribution to a domestic abuse victim under section 72(t)(2)(B), (D), (E), (F), (G), 

(H), (I), (K), or (L). Code 1 must also be used even if a taxpayer is 591/2 or older 

and they modify a series of substantially equal periodic payments under section 

72(q), (t), or (v) prior to the end of the 5-year period that began with the first 

payment.

8, B, D, K, L, M, or P

2—Early distribution, exception applies. Use Code 2 only if the participant has not reached age 591/2 and you know the 

distribution is the any of 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) plans, 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 plan to a public safety employee (as 

defined in section 72(t)(10)(B)) after separation from service, in or after the year 

the employee has reached age 50 or 25 years of service under the plan, 

whichever is earlier. A distribution from a qualified plan, a section 403(a) plan, or a 

section 403(b) plan to an employee who provides firefighting services, after 

separation from service, in or after the year the employee has reached age 50 or 

25 years of service under the plan, whichever is earlier.

• 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.

• An employer matching or nonelective contribution made to a Roth SEP IRA or 

a Roth SIMPLE IRA.

8, B, D, K, L, M, or P

3—Disability. For these purposes, see section 72(m)(7) and Rev. Rul. 85-105, 1985-2 C.B. 53. D

4—Death. Use Code 4 regardless of the age of the participant to indicate payment to a 

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. Also, use it for payments of reportable death benefits.

8, A, B, D, G, H, K, L, M, or P

5—Prohibited transaction. Use Code 5 if there was a prohibited transaction involving the IRA account. Code 

5 means the account is no longer an IRA.

None

6—Section 1035 exchange. Use Code 6 to indicate the tax-free exchange of life insurance, annuity, long-term 

care insurance, or endowment contracts under section 1035.

W

16 Instructions for Forms 1099-R and 5498 (2024)
Guide to Distribution Codes

Distribution Codes Explanations *Used with code (if 

applicable)

7—Normal distribution. Use Code 7: (a) for a normal distribution from a plan, including a traditional IRA, 

section 401(k), or section 403(b) plan, if the employee/taxpayer is at least age 

591/2; (b) for a Roth IRA conversion if the participant is at least age 591/2; and (c) 

to report a distribution from a life insurance, annuity, or endowment contract and 

for reporting income from a failed life insurance contract under section 7702(g) 

and (h). See Rev. Proc. 2008-42, 2008-29 I.R.B. 160, available at IRS.gov/irb/

2008-29_IRB#RP-2008-42. Generally, use Code 7 if no other code applies. Do 

not use Code 7 for a Roth IRA.

Note. Code 1 must be used even if a taxpayer is age 591/2 or older and they 

modify a series of substantially equal periodic payments under section 72(q), (t), 

or (v) prior to the end of the 5-year period that began with the first payment.

A, B, D, K, L, or M

8—Excess contributions plus earnings/excess 

deferrals (and/or earnings) taxable in 2024.

Use Code 8 for a corrective IRA distribution under section 408(d)(4), unless Code 

P applies. Also, use this code for corrective distributions of excess deferrals, 

excess contributions, and excess aggregate contributions, unless Code P 

applies. See Corrective Distributions, earlier, and IRA Revocation or Account 

Closure, earlier, for more information.

1, 2, 4, B, J, or K

9—Cost of current life insurance protection. Use Code 9 to report premiums paid by a trustee or custodian for current life or 

other insurance protection. See the instructions for Box 2a. Taxable Amount, 

earlier, for more information.

None

A—May be eligible for 10-year tax option. Use Code A only for participants born before January 2, 1936, or their 

beneficiaries to indicate the distribution may be eligible for the 10-year tax option 

method of computing the tax on lump-sum distributions (on Form 4972, Tax on 

Lump-Sum Distributions). To determine whether the distribution may be eligible 

for the tax option, you need not consider whether the recipient used this method 

(or capital gain treatment) in the past.

4 or 7

B—Designated Roth account distribution. Use Code B for a distribution from a designated Roth account. But use Code E for 

a section 415 distribution under EPCRS (see Code E) or Code H for a direct 

rollover to a Roth IRA.

1, 2, 4, 7, 8, G, L, M, P, or U

C—Reportable death benefits under section 6050Y. Use Code C for a distribution to report payments of reportable death benefits. D

D—Annuity payments from nonqualified annuities 

and distributions from life insurance contracts 

that may be subject to tax under section 1411.

Use Code D for a distribution from any plan or arrangement not described in 

section 401(a), 403(a), 403(b), 408, 408A, or 457(b).

1, 2, 3, 4, 7, or C

E—Distributions under Employee Plans 

Compliance Resolution System (EPCRS).

See Distributions Under Employee Plans Compliance Resolution System 

(EPCRS), earlier.

None

F—Charitable gift annuity. See Charitable gift annuities, earlier. None

G—Direct rollover and direct payment. Use Code G for a direct rollover from a qualified plan, a section 403(b) plan, or a 

governmental section 457(b) plan to an eligible retirement plan (another qualified 

plan, a section 403(b) plan, a governmental section 457(b) plan, or an IRA). See 

Direct Rollovers, earlier. Also, use Code G for a direct payment from an IRA to an 

accepting employer plan, for IRRs that are direct rollovers, and to report 

designated Roth nonelective contributions and designated Roth matching 

contributions for the year in which the contributions are allocated. 

Note. Do not use Code G for a direct rollover from a designated Roth account to a 

Roth IRA. Use Code H.

4, B, or K

H—Direct rollover of a designated Roth account 

distribution to a Roth IRA.

Use Code H for a direct rollover of a distribution from a designated Roth account 

to a Roth IRA.

4

J—Early distribution from a Roth IRA. Use Code J for a distribution from a Roth IRA when Code Q or T does not apply. 

But use Code 2 for an IRS levy and Code 5 for a prohibited transaction.

 8 or P

K—Distribution of traditional IRA assets not 

having a readily available FMV.

Use Code K to report distributions of IRA assets not having a readily available 

FMV. These assets may include:

• Stock, other ownership interest in a corporation, short- or long-term debt 

obligations, not readily tradable on an established securities market; 

• Ownership interest in a limited liability company (LLC), partnership, trust, or 

similar entity (unless the interest is traded on an established securities market);

• Real estate; 

• Option contracts or similar products not offered for trade on an established 

option exchange; or 

• Other asset that does not have a readily available FMV.

1, 2, 4, 7, 8, or G

Instructions for Forms 1099-R and 5498 (2024) 17
Guide to Distribution Codes

Distribution Codes Explanations *Used with code (if 

applicable)

L—Loans treated as deemed distributions under 

section 72(p).

Do not use Code L to report a plan loan offset. See Loans Treated as 

Distributions, earlier.

1, 2, 4, 7, or B

M—Qualified plan loan offset. Use Code M for a qualified plan loan offset (which is generally a type of plan loan 

offset due to severance from employment or termination of the plan). See Plan 

loan offsets, earlier.

1, 2, 4, 7, or B

N—Recharacterized IRA contribution made for 

2024.

Use Code N for a recharacterization of an IRA contribution made for 2024 and 

recharacterized in 2024 to another type of IRA by a trustee-to-trustee transfer or 

with the same trustee.

None

P—Excess contributions plus earnings/excess 

deferrals taxable in 2023.

See the explanation for Code 8. The IRS suggests that anyone using Code P for 

the refund of an IRA contribution under section 408(d)(4), including excess Roth 

IRA contributions, advise payees, at the time the distribution is made, that the 

earnings are taxable in the year in which the contributions were made.

1, 2, 4, B, or J

Q—Qualified distribution from a Roth IRA. Use Code Q for a distribution from a Roth IRA if you know that the participant 

meets the 5-year holding period and:

• The participant has reached age 591/2,

• The participant died, or

• The participant is disabled.

Note. If any other code, such as 8 or P, applies, use Code J.

None

R—Recharacterized IRA contribution made for 

2023.

Use Code R for a recharacterization of an IRA contribution made for 2023 and 

recharacterized in 2024 to another type of IRA by a trustee-to-trustee transfer or 

with the same trustee.

None

S—Early distribution from a SIMPLE IRA in the 

first 2 years, no known exception.

Use Code S only if the distribution is from a SIMPLE IRA in the first 2 years, the 

employee/taxpayer has not reached age 591/2, and none of the exceptions under 

section 72(t) are known to apply when the distribution is made. The 2-year period 

begins on the day contributions are first deposited in the individual's SIMPLE IRA. 

Do not use Code S if Code 3 or 4 applies.

None

T—Roth IRA distribution, exception applies. Use Code T for a distribution from a Roth IRA if you do not know if the 5-year 

holding period has been met but:

• The participant has reached age 591/2,

• The participant died, or

• The participant is disabled.

Note. If any other code, such as 8 or P, applies, use Code J.

None

U—Dividends distributed from an ESOP under 

section 404(k).

Use Code U for a distribution of dividends from an employee stock ownership 

plan (ESOP) under section 404(k). These are not eligible rollover distributions. 

Note. Do not report dividends paid by the corporation directly to plan participants 

or their beneficiaries. Continue to report those dividends on Form 1099-DIV.

B

W—Charges or payments for purchasing qualified 

long-term care insurance contracts under 

combined arrangements.

Use Code W for charges or payments for purchasing qualified long-term care 

insurance contracts under combined arrangements that are excludable under 

section 72(e)(11) against the cash value of an annuity contract or the cash 

surrender value of a life insurance contract.

6

*See the first two Cautions for the box 7 instructions, earlier.

Specific Instructions for Form 5498

File Form 5498, IRA Contribution Information, with the IRS by 

May 31, 2025, for each person for whom in 2024 you 

maintained any individual retirement arrangement (IRA), 

including a deemed IRA under section 408(q).

An IRA includes all investments under one IRA plan. It is 

not necessary to file a Form 5498 for each investment under 

one plan. For example, if a participant has three certificates 

of deposit (CDs) under one IRA plan, only one Form 5498 is 

required for all contributions and the fair market values 

(FMVs) of the CDs under the plan. However, if a participant 

has established more than one IRA plan with the same 

trustee, a separate Form 5498 must be filed for each plan.

Contributions. You must report contributions to any IRA on 

Form 5498. See the instructions under boxes 1, 2, 3, 4, 8, 9, 

10, 13a, and 14a, later. If no reportable contributions were 

made for 2024, complete only boxes 5 and 7, and boxes 11, 

12a, 12b, 15a, and 15b, if applicable. See Reporting FMV of 

certain specified assets, later.

You are required to file Form 5498 even if required 

minimum distributions (RMDs) or other annuity or 

periodic payments have started.

Report contributions to a Kay Bailey Hutchison Spousal 

IRA under section 219(c) on a separate Form 5498 using the 

name and TIN of the spouse.

For contributions made between January 1 and April 15, 

2025, trustees and issuers should obtain the participant's 

designation of the year for which the contributions are made.

Direct rollovers, transfers, and recharacterizations. You 

must report the receipt of a direct rollover from a qualified 

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

plan to an IRA. Report a direct rollover in box 2. For 

information on direct rollovers of eligible rollover distributions, 

see Direct Rollovers, earlier.

If a rollover or trustee-to-trustee transfer is made from a 

savings incentive match plan for employees (SIMPLE) IRA to 

an IRA that is not a SIMPLE IRA and the trustee has 

adequately substantiated information that the participant has 

not satisfied the first 2 years of plan participation, report the 

CAUTION

!

18 Instructions for Forms 1099-R and 5498 (2024)
amount as a regular contribution in box 1 even if the amount 

exceeds $6,500 ($7,500 for participants 50 or older).

Transfers. Do not report on Form 5498 a 

trustee-to-trustee transfer from (a) a traditional IRA or a 

simplified employee pension (SEP) IRA to another traditional 

IRA or SEP IRA, or to a SIMPLE IRA after the first 2 years of 

plan participation; (b) a SIMPLE IRA to another SIMPLE IRA, 

or to a traditional IRA or SEP IRA after the first 2 years of plan 

participation; or (c) a Roth IRA to another Roth IRA.

Recharacterizations. You must report each 

recharacterization of an IRA contribution. If a participant 

makes a contribution to an IRA (first IRA) for a year, the 

participant may choose to recharacterize the contribution by 

transferring, in a trustee-to-trustee transfer, any part of the 

contribution (plus earnings) to another IRA (second IRA). The 

contribution is treated as made to the second IRA 

(recharacterization). A recharacterization may be made with 

the same trustee or with another trustee. The trustee of the 

first IRA must report the amount contributed before the 

recharacterization as a contribution on Form 5498 and the 

recharacterization as a distribution on Form 1099-R. The 

trustee of the second IRA must report the amount received 

(FMV) in box 4 on Form 5498 and check the type of IRA in 

box 7.

All recharacterized contributions received by an IRA in the 

same year must be totaled and reported on one Form 5498 in 

box 4. You may report the FMV of the account on the same 

Form 5498 you use to report a recharacterization of an IRA 

contribution and any other contributions made to the IRA for 

the year.

No recharacterizations of conversions made in 2018 or 

later. A conversion of a traditional IRA to a Roth IRA, and a 

rollover from any other eligible retirement plan to a Roth IRA, 

made in the participant’s tax years beginning after December 

31, 2017, cannot be recharacterized as having been made to 

a traditional IRA.

Catch-up contributions. Participants who are age 50 or 

older by the end of the year may be eligible to make catch-up 

IRA contributions or catch-up elective deferral contributions. 

The annual IRA regular contribution limit of $6,500 is 

increased to $7,500 for participants age 50 or older. 

Catch-up elective deferral contributions reported on Form 

5498 may be made under a salary reduction SEP (SARSEP) 

or under a SIMPLE IRA plan. For 2024, up to $7,500 in 

catch-up elective deferral contributions may be made under a 

SARSEP, and up to $3,500 to a SIMPLE IRA plan. For more 

information on catch-up elective deferral contributions, see 

Regulations section 1.414(v)-1.

Include any catch-up amounts when reporting 

contributions for the year in box 1, 8, 9, or 10, or for a prior 

year in box 13a.

Roth IRA conversions. You must report the receipt of a 

conversion from an IRA to a Roth IRA even if the conversion 

is with the same trustee. Report the total amount converted 

from a traditional IRA, SEP IRA, or SIMPLE IRA to a Roth IRA 

in box 3.

IRA revocation or account closure. If a traditional IRA, 

Roth IRA, or SIMPLE IRA is revoked during its first 7 days 

(under Regulations section 1.408-6(d)(4)(ii)) or closed at any 

time by the IRA trustee pursuant to its resignation or such 

other event mandating the closure of the account, Form 5498 

must be filed to report any regular, rollover, IRA conversion, 

SEP IRA, or SIMPLE IRA contributions to the IRA. For 

information about reporting a distribution from a revoked or 

closed IRA, see IRA Revocation or Account Closure under 

the Specific Instructions for Form 1099-R, earlier.

Total distribution, no contributions. Generally, if a total 

distribution was made from an account during the year and 

no contributions, including rollovers, recharacterizations, or 

Roth IRA conversion amounts, were made for that year, you 

need not file Form 5498 or furnish the annual statement to 

reflect that the FMV on December 31 was zero.

RMDs. An IRA (other than a Roth IRA) owner/participant 

must begin taking distributions for each calendar year 

beginning with the calendar year in which the participant 

attains age 73 (it was age 72 for participants who attained 

age 72 before 2022). The distribution for the 73 year old must 

be made no later than April 1 of the following calendar year; 

RMDs for any other year must be made no later than 

December 31 of the year. See Public Law (P.L.) 117-328, Div. 

T, Title III, section 107.

For each IRA you held as of December 31 of the prior 

year, if an RMD is required for the year, you must provide a 

statement to the IRA participant by January 31 regarding the 

RMD using one of two alternative methods described below. 

You are not required to use the same method for all IRA 

participants; you can use Alternative one for some IRA 

participants and Alternative two for the rest. Under both 

methods, the statement must inform the participant that you 

are reporting to the IRS that an RMD is required for the year. 

The statement can be provided in conjunction with the 

statement of the FMV.

If the IRA participant is deceased, and the surviving 

spouse is the sole beneficiary, special rules apply for RMD 

reporting. If the surviving spouse elects to treat the IRA as 

the spouse's own, then report with the surviving spouse as 

the owner. However, if the surviving spouse does not elect to 

treat the IRA as the spouse's own, then you must continue to 

treat the surviving spouse as the beneficiary. Until further 

guidance is issued, no reporting is required for IRAs of 

deceased participants (except where the surviving spouse 

elects to treat the IRA as the spouse's own, as described 

above).

Alternative one. Under this method, include in the 

statement the amount of the RMD with respect to the IRA for 

the calendar year and the date by which the distribution must 

be made. The amount may be calculated assuming the sole 

beneficiary of the IRA is not a spouse more than 10 years 

younger than the participant. Use the value of the account as 

of December 31 of the prior year to compute the amount. See 

the instructions for boxes 11. Check if RMD for 2025, 12a. 

RMD Date, and 12b. RMD Amount, later, for how to report.

Alternative two. Under this method, the statement 

informs the participant that a minimum distribution with 

respect to the IRA is required for the calendar year and the 

date by which such amount must be distributed. You must 

include an offer to furnish the participant with a calculation of 

the amount of the RMD if requested by the participant.

Electronic filing. These statements may be furnished 

electronically using the procedures described in part F of the 

current General Instructions for Certain Information Returns.

Reporting to the IRS. If an RMD is required, check 

box 11. See Box 11. Check if RMD for 2025, later. For 

example, box 11 is checked on the Form 5498 for a 2025 

RMD. You are not required to report to the IRS the amount or 

the date by which the distribution must be made. However, 

see the Caution following the box 11 instructions, later, for 

reporting RMDs to participants.

Instructions for Forms 1099-R and 5498 (2024) 19
For more details, see Notice 2002-27 on page 814 of 

I.R.B. 2002-18 at IRS.gov/pub/irs-irbs/irb02-18.pdf, as 

clarified by Notice 2003-3 on page 258 of I.R.B. 2003-2 at 

IRS.gov/pub/irs-irbs/irb03-02.pdf.

Inherited IRAs. In the year an IRA participant dies, you, as 

an IRA trustee or issuer, must generally file a Form 5498 and 

furnish an annual statement for the decedent and a Form 

5498 and an annual statement for each nonspouse 

beneficiary. An IRA holder must be able to identify the source 

of each IRA they hold for purposes of figuring the taxation of 

a distribution from an IRA. Thus, the decedent's name must 

be shown on the beneficiary's Form 5498 and annual 

statement. For example, you may enter “Brian Willow as 

beneficiary of Joan Maple” or something similar that signifies 

that the IRA was once owned by Joan Maple. You may 

abbreviate the word “beneficiary” as, for example, “bene.”

For a spouse beneficiary, unless the spouse makes the 

IRA their own, treat the spouse as a nonspouse beneficiary 

for reporting purposes. If the spouse makes the IRA their 

own, do not report the beneficiary designation on Form 5498 

and the annual statement.

An IRA set up to receive a direct rollover for a nonspouse 

designated beneficiary is treated as an inherited IRA.

FMV. On the decedent's Form 5498 and annual statement, 

you must enter the FMV of the IRA on the date of death in 

box 5. Or you may choose the alternate reporting method and 

report the FMV as of the end of the year in which the 

decedent died. This alternate value will usually be zero 

because you will be reporting the end-of-year valuation on 

the beneficiary's Form 5498 and annual statement. The same 

figure should not be shown on both the beneficiary's and 

decedent's forms. If you choose to report using the alternate 

method, you must inform the executor or administrator of the 

decedent's estate of their right to request a date-of-death 

valuation.

On the beneficiary's Form 5498 and annual statement, the 

FMV of that beneficiary's share of the IRA as of the end of the 

year must be shown in box 5. Every year thereafter that the 

IRA exists, you must file Form 5498 and furnish an annual 

statement for each beneficiary who has not received a total 

distribution of their share of the IRA showing the FMV at the 

end of the year and identifying the IRA, as described above.

However, if a beneficiary takes a total distribution of their 

share of the IRA in the year of death, you need not file a Form 

5498 or furnish an annual statement for that beneficiary, but 

you must still file Form 5498 for the decedent.

If you have no knowledge of the death of an IRA 

participant until after you are required to file Form 5498 (May 

31, 2025), you are not required to file a corrected Form 5498 

or furnish a corrected annual statement. However, you must 

still provide the date-of-death valuation in a timely manner to 

the executor or administrator upon request.

In the case of successor beneficiaries, apply the 

preceding rules by treating the prior beneficiary as the 

decedent and the successor beneficiary as the beneficiary. 

Using the example above (Brian Willow as beneficiary of 

Joan Maple), when that account passes to Brian's successor 

beneficiary, Maurice Poplar, Form 5498 and the annual 

statement for Maurice should state “Maurice Poplar as 

beneficiary of Brian Willow.” The final Form 5498 and annual 

statement for Brian Willow will state “Brian Willow as 

beneficiary of Joan Maple” and will show the FMV as of the 

date of Brian's death or year-end valuation, depending on the 

method chosen.

For more information about the reporting requirements for 

inherited IRAs, see Rev. Proc. 89-52, 1989-2 C.B. 632.

Disaster relief reporting. Special rules apply to tax-favored 

withdrawals, income inclusion, and repayments for 

individuals who suffered economic losses as a result of 

certain major disasters. See Disaster-Related Relief in Pub. 

590-B, for more information.

For information about disaster relief available in your area, 

including postponements, go to IRS News Around the Nation.

See the instructions for boxes 13a through 13c for 

reporting postponed contributions, later.

Special reporting for U.S. Armed Forces in designated 

combat zones. A participant who is serving in, or in support 

of, the Armed Forces in a designated combat zone or 

qualified hazardous duty area has an additional period after 

the normal contribution due date of April 15 to make IRA 

contributions for a prior year. The period is the time the 

participant was in the designated zone or area plus at least 

180 days. The participant must designate the IRA 

contribution for a prior year to claim it as a deduction on the 

income tax return.

Under section 219(f), combat zone compensation that is 

excluded from gross income under section 112 is treated as 

includible compensation for purposes of determining IRA 

contributions.

A qualifying participant is:

• Serving or has served in a combat zone;

• Serving or has served in a qualifying hazardous duty area; 

or

• Serving or has served in an active direct support area.

If a qualifying participant designates an IRA contribution 

for a prior year, other than an IRA contribution made by April 

15 for the preceding year, you must report the type of IRA 

(box 7) and the amount on Form 5498. Report the amount 

either for (1) the year for which the contribution was made, or 

(2) a subsequent year. See the instructions for boxes 13a, 

13b, and 13c, later.

1. If you report a contribution for 2024 made before April 

15, 2025, no special reporting is required. Include the 

contribution in box 1 or 10 of an original Form 5498 or of a 

corrected Form 5498 if an original was previously filed.

2. If you report the contribution on Form 5498 in a 

subsequent year, you must include the year for which the 

contribution was made, the amount of the contribution, and 

one of the following indicators.

a. Use “EO13239” for Afghanistan and those countries in 

direct support, including Djibouti, Jordan, Kyrgyzstan, 

Pakistan, Somalia, Syria, Tajikistan, Uzbekistan, and Yemen.

b. Use “EO12744” for the Arabian Peninsula, including air 

space and adjacent waters (the Persian Gulf; the Red Sea; 

the Gulf of Oman, the Gulf of Aden; the portion of the Arabian 

Sea that lies north of 10 degrees north latitude and west of 68 

degrees east longitude; the total land areas of Iraq, Kuwait, 

Saudi Arabia, Oman, Bahrain, Qatar, and the United Arab 

Emirates; Lebanon, and Turkey east of longitude 33.51E), 

and Jordan, which is in direct support of the Arabian 

Peninsula.

c. Use “EO13119” or “P.L.106-21” for the Federal 

Republic of Yugoslavia (Serbia and Montenegro), Albania, 

Kosovo, the Adriatic Sea, and the Ionian Sea north of the 

39th parallel. (Note. The combat zone designation for 

Montenegro and Kosovo (previously a province within Serbia) 

under Executive Order 13119 remains in force even though 

20 Instructions for Forms 1099-R and 5498 (2024)
Montenegro and Kosovo became independent nations since 

EO13119 was signed.)

d. Use “P.L.115-97” for the Sinai Peninsula of Egypt.

For additions to, or subtractions from, the list of 

combat zones or qualified hazardous duty areas 

implemented by executive orders and public laws, 

and direct support areas designated by the Secretary of 

Defense, after the publication date of these instructions, go to 

IRS.gov/Form5498.

Example. For a $4,000 IRA contribution designated by a 

participant who served under EO13239 for the tax year 2023, 

enter “4000” in box 13a, “2023” in box 13b, and “EO13239” in 

box 13c only. Make no entry in box 1 or box 10.

Repayment of qualified reservist distributions. Report 

any repayment of a qualified reservist distribution as 

described in section 72(t)(2)(G) in boxes 14a (amount) and 

14b (with indicator code “QR”).

Repayment of qualified disaster distributions. Report 

any repayment of a qualified disaster distribution, as 

described in applicable disaster legislation, in boxes 14a 

(amount) and 14b (with indicator code “DD”).

Repayment of qualified birth or adoption 

distributions. Report any repayment of a qualified birth or 

adoption distribution as described in section 72(t)(2)(H) in 

boxes 14a (amount) and 14b (with indicator code "BA").

Repayment of emergency personal expense 

distributions. Report any repayment of an emergency 

personal expense distribution as described in section 72(t)(2)

(I) in boxes 14a (amount) and 14b (with indicator code "EP").

Repayment of eligible distributions to a domestic 

abuse victim. Report any repayment of an eligible 

distribution to a domestic abuse victim as described in 

section 72(t)(2)(K) in boxes 14a (amount) and 14b (with 

indicator code "DA").

Repayment of terminally ill individual distributions. 

Report any repayment of a terminally ill individual distribution 

as described in section 72(t)(2)(L) in boxes 14a (amount) and 

14b (with indicator code "TI").

Military death gratuities and servicemembers' group 

life insurance (SGLI) payments. Recipients of military 

death gratuities and SGLI payments may contribute amounts 

received to a Roth IRA, up to the amount of the gratuity or 

SGLI payment less any amounts contributed to Coverdell 

ESAs. Report the amount of the rollover contribution in box 2 

only. See section 408A(e)(2), and Notice 2010-15, 2010-06 

I.R.B. 390, available at IRS.gov/irb/

2010-06_IRB#NOT-2010-15, for more information on 

limitations.

Electronic filers. You may request an automatic waiver 

from filing Forms 5498 electronically for combat zone 

participants by submitting Form 8508, Request for Waiver 

From Filing Information Returns Electronically. Once you 

have received the waiver, you may report all Forms 5498 for 

combat zone participants on paper. Alternatively, you may 

report contributions made by the normal contribution due 

date electronically and report the contributions made after 

the normal contribution due date on paper. You may also 

report prior year contributions by combat zone participants 

on a corrected Form 5498 electronically or on paper.

See part F in the current General Instructions for Certain 

Information Returns for information on how to request a 

waiver on Form 8508.

CAUTION

!

Reporting FMV of certain specified assets. Assets held 

in an IRA that are not readily tradable on an established 

securities market or option exchange, or that do not have a 

readily available FMV, must be reported at the FMV 

determined as of December 31, 2024. See the instructions 

for boxes 15a and 15b, later.

Corrected Form 5498. If you file a Form 5498 with the IRS 

and later discover that there is an error on it, you must correct 

it as soon as possible. See part H in the current General 

Instructions for Certain Information Returns, or Pub. 1220, if 

filing electronically. For example, if you reported contributions 

as rollover contributions in box 2, and you later discover that 

part of the contribution was not eligible to be rolled over and 

was, therefore, a regular contribution that should have been 

reported in box 1 (even if the amount exceeds the regular 

contribution limit), you must file a corrected Form 5498.

Statements to participants. If you are required to file Form 

5498, you must provide a statement to the participant. By 

January 31, 2025, you must provide participants with a 

statement of the December 31, 2024, value of the 

participant's account (including information required to be 

reported in boxes 15a and 15b for hard-to-value assets) and 

RMD, if applicable. Trustees of SIMPLE IRAs must also 

provide a statement of the account activity by January 31, 

2025. Contribution information for all other types of IRAs 

must be provided by May 31, 2025. You are not required to 

provide information to the IRS or to participants as to whether 

a contribution is deductible or nondeductible. In addition, the 

participant is not required to tell you whether a contribution is 

deductible or nondeductible.

If you furnished a statement of the FMV of the account 

(including information required to be reported in boxes 15a 

and 15b for hard-to-value assets) and RMD, if applicable, to 

the participant by January 31, 2025, and no reportable 

contributions, including rollovers, recharacterizations, or Roth 

IRA conversions, were made for 2024, you need not furnish 

another statement (or Form 5498) to the participant to report 

zero contributions. However, you must file Form 5498 with the 

IRS by May 31, 2025, to report the December 31, 2024, FMV 

of the account and the FMV of hard-to-value assets. This rule 

also applies to beneficiary accounts under the inherited IRA 

rules, earlier. For more information about the requirement to 

furnish statements to participants, see part M in the current 

General Instructions for Certain Information Returns.

If you do not furnish another statement to the 

participant because no reportable contributions were 

made for the year, the statement of the FMV of the 

account must contain a legend designating which information 

is being filed with the IRS.

Truncating participant's TIN on payee statements. 

Pursuant to Regulations section 301.6109-4, all filers of Form 

5498 may truncate a participant’s TIN (social security number 

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

adoption taxpayer identification number (ATIN), or employer 

identification number (EIN)) on payee statements. Truncation 

is not allowed on any documents the filer files with the IRS. A 

trustee's or issuer's TIN may not be truncated on any form. 

See part J in the current General Instructions for Certain 

Information Returns.

Account Number

The account number is required if you have multiple accounts 

for a recipient for whom you are filing more than one Form 

CAUTION

!

Instructions for Forms 1099-R and 5498 (2024) 21
5498. Additionally, the IRS encourages you to designate an 

account number for all Forms 5498 that you file. See part L in 

the current General Instructions for Certain Information 

Returns.

Box 1. IRA Contributions (Other Than Amounts 

in Boxes 2–4, 8–10, 13a, and 14a)

Enter contributions to a traditional IRA made in 2024 and 

through April 15, 2025, designated for 2024.

Report gross contributions, including the amount allocable 

to the cost of life insurance (see Box 6. Life Insurance Cost 

Included in Box 1, later) and including any excess 

contributions, even if the excess contributions were 

withdrawn. If an excess contribution is treated as a 

contribution in a subsequent year under section 219(f)(6), do 

not report it on Form 5498 for the subsequent year. It has 

already been reported as a contribution on Form 5498 for the 

year it was actually contributed.

Also include employer contributions to an IRA that are not 

made pursuant to a SEP arrangement (which include 

employer contributions that are nominally under a SEP 

arrangement but that exceed the definite written allocation 

formula of the SEP arrangement). Such contributions are 

contributions made by the employee, not by the employer, 

that are treated as regular IRA contributions subject to the 

100% of compensation and $6,500 ($7,500 for participants 

age 50 or older) limits of section 219. Do not include 

employer SEP IRA contributions or SARSEP contributions 

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

Also, do not include in box 1 employer contributions, 

including salary deferrals, to a SIMPLE IRA (report them in 

box 9) and a Roth IRA (report them in box 10). In addition, do 

not include in box 1 rollovers and recharacterizations (report 

rollovers in box 2 and recharacterizations in box 4), or a Roth 

IRA conversion amount (report in box 3).

Box 2. Rollover Contributions

Enter any rollover contributions (or contributions treated as 

rollovers) to any IRA received by you during 2024. These 

contributions may be any of the following.

• A 60-day rollover between Roth IRAs or between other 

types of IRAs.

• A direct or indirect (within 60 days) rollover from a qualified 

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

plan.

• Any qualified rollover contribution, as defined in section 

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

to a Roth IRA.

• A military death gratuity.

• An SGLI payment.

For the rollover of property, enter the FMV of the property 

on the date you receive it. This value may be different from 

the value of the property on the date it was distributed to the 

participant.

For more details, see Pub. 590-A.

Note. Do not use box 2 for late rollover contributions, 

including rollovers of qualified plan loan offset amounts after 

60 days or any of the following repayments made after 60 

days.

• Qualified reservist distributions.

• Qualified disaster distributions.

• Qualified birth or adoption distributions.

• Emergency personal expense distributions.

• Terminally ill individual distributions.

• Eligible distributions to domestic abuse victims.

See the instructions for boxes 13a through 13c, 14a, and 

14b, later.

Box 3. Roth IRA Conversion Amount

Enter the amount converted from a traditional IRA, SEP IRA, 

or SIMPLE IRA to a Roth IRA during 2024. Do not include a 

rollover from one Roth IRA to another Roth IRA, or a qualified 

rollover contribution under section 408A(e) from an eligible 

retirement plan (other than an IRA) to a Roth IRA. These 

rollovers are reported in box 2.

Box 4. Recharacterized Contributions

Enter any amounts recharacterized plus earnings from one 

type of IRA to another.

Box 5. FMV of Account

Enter the FMV of the account on December 31, 2024. For 

inherited IRAs, see Inherited IRAs, earlier.

Trustees and custodians are responsible for ensuring 

that all IRA assets (including those not traded on 

established markets or not having a readily 

determinable market value) are valued annually at their FMV.

Box 6. Life Insurance Cost Included in Box 1

For endowment contracts only, enter the amount included in 

box 1 allocable to the cost of life insurance.

Box 7. Checkboxes

Check the appropriate box.

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

information about a traditional IRA account.

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

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

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

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

report information about a SIMPLE IRA account. Do not file 

Form 5498 for a SIMPLE 401(k) plan.

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

report information about a Roth IRA account.

Roth SEP IRA. Check both “SEP” and “Roth IRA” if you are 

filing Form 5498 to report information about a Roth SEP IRA.

Roth SIMPLE IRA. Check both “SIMPLE” and “Roth IRA” if 

you are filing Form 5498 to report information about a Roth 

SIMPLE IRA.

Box 8. SEP Contributions

Enter employer contributions made to a SEP IRA (including 

salary deferrals under a SARSEP) during 2024, including 

contributions made in 2024 for 2023, but not including 

contributions made in 2025 for 2024. Trustees and issuers 

are not responsible for reporting the year for which SEP 

contributions are made. Do not enter employer contributions 

to an IRA that are not made pursuant to a SEP arrangement 

(which include employer contributions that are nominally 

under a SEP arrangement but that exceed the definite written 

allocation formula of the SEP arrangement). Report any 

employer contributions to an IRA that are not made pursuant 

to a SEP arrangement in box 1. Include in box 8 SEP 

contributions made by a self-employed person to their own 

CAUTION

!

22 Instructions for Forms 1099-R and 5498 (2024)
account. Also, include in box 8 contributions to a Roth SEP 

IRA.

Box 9. SIMPLE Contributions

Enter employer contributions, including salary deferrals, 

made to a SIMPLE IRA during 2024, including contributions 

made in 2024 for 2023, but not including contributions made 

in 2025 for 2024. Trustees and issuers are not responsible for 

reporting the year for which SIMPLE contributions are made. 

Do not include contributions to a SIMPLE 401(k) plan. Also, 

include in box 9 contributions to a Roth SIMPLE IRA.

Box 10. Roth IRA Contributions

Enter any contributions made to a Roth IRA in 2024 and 

through April 15, 2025, designated for 2024. Also enter a 

rollover contribution to a Roth IRA from a long-term section 

529 qualified tuition program that was made after December 

31, 2023, and on or before April 15, 2025, that is designated 

for 2024. However, report Roth IRA conversion amounts in 

box 3. Report a qualified rollover contribution made under 

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

an IRA) to a Roth IRA in box 2. Do not include in box 10 

contributions to a Roth SEP IRA or Roth SIMPLE IRA.

Also, report qualified rollover contributions made under 

section 529(c)(E) from a qualified tuition plan (QTP) to a Roth 

IRA maintained for the benefit of the QTP beneficiary.

Box 11. Check if RMD for 2025

Check the box if the participant must take an RMD for 2025. 

You are required to check the box for the year in which the 

IRA participant reaches age 73 even though the RMD for that 

year need not be made until April 1 of the following year. 

Then, check the box for each subsequent year an RMD is 

required to be made.

Boxes 12a and 12b are provided for your use to 

report RMD dates and amounts to participants. You 

may choose to complete these boxes, or continue to 

provide a separate Form 5498, or a separate statement, to 

report the information required by Alternative one or 

Alternative two, earlier. To determine the RMD, see the 

regulations under sections 401(a)(9) and 408(a)(6) and (b)

(3).

Box 12a. RMD Date

Enter the RMD date if you are using Form 5498 to report the 

additional information. See RMDs, earlier.

Box 12b. RMD Amount

Enter the RMD amount if you are using Form 5498 to report 

the additional information under Alternative one. See 

Alternative one, earlier.

Box 13a. Postponed/late contrib.

Report the amount of any postponed contribution made in 

2024 for a prior year. If contributions were made for more 

than 1 prior year, each prior year's postponed contribution 

must be reported on a separate form. Report the amount of a 

late rollover contribution made during 2024, including 

rollovers that are (1) certified by participants, (2) qualified 

plan loan offsets, and (3) related to taxpayers for federally 

declared disasters. See Rev. Proc. 2020-46, 2020-45 I.R.B. 

995, available at IRS.gov/irb/2020-45_IRB#REVPROC-2020-46. If the participant also has a postponed 

CAUTION

!

contribution, use a separate Form 5498 to report a late 

rollover.

Box 13b. Year

Enter the year for which the postponed contribution in 

box 13a was made. Leave this box blank for late rollover 

contributions and rollovers of qualified plan loan offset 

amounts.

Box 13c. Code

Enter the reason the participant made the postponed 

contribution.

• For participants' service in a combat zone, hazardous duty 

area, or direct support area, enter the appropriate executive 

order or public law, as defined under Special reporting for 

U.S. Armed Forces in designated combat zones, earlier.

• For participants who are “affected taxpayers,” as described 

in an IRS News Release relating to a federally designated 

disaster area, enter “FD.” (For a repayment of a qualified 

disaster distribution, use boxes 14a and 14b.)

• For participants who are making a rollover of a qualified 

plan loan offset amount, enter “PO.” See the discussion of 

qualified plan loan offsets in the second paragraph under 

Plan Loan Offsets in the Form 1099-R instructions, earlier.

• For participants who have certified that the rollover 

contribution is late because of one or more of the 

circumstances listed in section 3.02(2) of Rev. Proc. 2020-46, 

enter “SC.”

Box 14a. Repayments

Enter the amount of any repayment of a qualified reservist 

distribution, a qualified disaster distribution, a qualified birth 

or adoption distribution, an emergency personal expense 

distribution, a terminally ill individual distribution, or an 

eligible distribution to a domestic abuse victim.

Box 14b. Code

Enter repayment code:

• “QR” for qualified reservist distribution,

• “DD” for qualified disaster distribution,

• “BA” for qualified birth or adoption distribution,

• “EP” for emergency personal expense distribution,

• “TI” for terminally ill individual distribution, and

• “DA” for eligible distribution to a domestic abuse victim.

Box 15a. FMV of Certain Specified Assets

Enter the FMV of the investments in the IRA that are 

specified in the categories identified below.

Box 15b. Code(s)

Enter the code for the type(s) of investments held in the IRA 

for which the FMV is reported in box 15a. A maximum of two 

codes can be entered in box 15b. If more than two codes 

apply, enter Code H.

• A—Stock or other ownership interest in a corporation that 

is not readily tradable on an established securities market.

• B—Short- or long-term debt obligation that is not traded on 

an established securities market.

• C—Ownership interest in a limited liability company or 

similar entity (unless the interest is traded on an established 

securities market).

• D—Real estate.

• E—Ownership interest in a partnership, trust, or similar 

entity (unless the interest is traded on an established 

securities market).

Instructions for Forms 1099-R and 5498 (2024) 23
• F—Option contract or similar product that is not offered for 

trade on an established option exchange.

• G—Other asset that does not have a readily available 

FMV.

• H—More than two types of assets (listed in A through G) 

are held in this IRA.

24 Instructions for Forms 1099-R and 5498 (2024)
Index

A

Account closure, IRA 4, 19

Alternate payee under QDRO 9

Annuity distributions 2-16

Automatic contribution 

arrangements 7

Automatic rollovers 5, 6

B

Beneficiaries 9

C

Charitable gift annuities 11

Combat zones, designated 20

Corrected Form 1099-R 9

Corrected Form 5498 21

Corrective distributions 7

Cost of current life insurance 

protection 11

D

Death benefit payments 10

Deemed IRAs 3

Designated Roth account, 

contributions 3

Designated Roth account, direct 

rollover 5, 6

Designated Roth account, 

distributions 10, 11, 15

Direct rollovers 5-7, 9, 11, 13, 14, 17, 

18, 22

Disaster relief reporting 20

Disclaimer of an IRA 9

Distributions under EPCRS 8

DVECs 4

E

Eligible rollover distribution 5, 13, 14

Employee contributions, retirement 

plan 14, 15

Employer securities, distributions 8, 

10, 12-14

Endowment contracts 3, 22

Excess deferrals, excess 

contributions, corrective 

distributions of 7

F

Failing ADP or ACP test, 

corrections 8

Federal income tax withholding 13

Form 1099-R 2

Form 5498 18

Form 945 13

G

Guide to Distribution Codes 16-18

I

In-plan Roth rollover (IRR) 3, 10, 15

Inherited IRAs 20, 22

Insurance contracts 2, 14

Involuntary distributions 5, 6

IRA contributions 18

IRA distributions 2, 3, 15, 16

IRA recharacterizations 3, 7, 11, 13, 

18, 19, 22

IRA revocation 4, 19

L

Late rollovers 23

Life insurance contract 

distributions 3

Loans treated as distributions 5, 8

Losses, retirement distributions 8, 12

M

Military death gratuities 21

Military retirement 2

N

Net unrealized appreciation 5, 12-14

Nonperiodic distributions 13

Nonqualified plan distributions 2

Nonresident aliens 10

P

Pension distributions 2-16

Periodic payments 13

Permissible withdrawals under 

section 414(w) 9

Postponed contribution 23

Profit-sharing distributions 2-16

Q

QDRO 5, 7, 9

Qualified HSA funding distributions 2

Qualified plan distributions 2-16

Qualified rollover contributions 6, 22

R

Recharacterized IRA contributions 7, 

10, 13, 18

Reportable death benefits 2

Required minimum distribution 19, 23

Retirement payments 2-16

Revocation, IRA 4, 19

RMD 19, 23

RMD amount 23

RMD date 23

Rollovers 5-7, 9-11, 13, 14, 18, 19, 22

Roth IRA contributions 19, 22

Roth IRA conversions 4, 7, 12, 13, 19, 

22

Roth IRA distributions 4, 12, 13

S

Section 1035 exchange 3, 7, 10

Section 402(f) notice 6

Section 404(k) dividends 2

SEP contributions 4, 12, 18, 22

SEP distributions 4, 12, 14

Servicemembers' Group Life 

Insurance (SGLI) payments 21

SIMPLE contributions 18, 22, 23

SIMPLE distributions 4, 7, 12, 14

State and local information 16

Statements to recipients/

participants 10

T

Taxable amount, retirement 

distributions 11

Transfers:

Form 1099-R 7

Form 5498 18

U

U.S. Armed Forces, special 

reporting 20

W

Withholding 13

Federal income tax 13

25