Fillable Form 1099-R

What is Form 1099-R?

File Form 1099-R is used by the U.S. Internal Revenue Service (IRS) to report Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. It deals with any income you receive that you may have to pay taxes on.

Form 1099-R is filed whenever 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.

Am I required to file a Form 1099 or other information return?

If you made or received a payment during the calendar year as a small business or self-employed (individual), you are most likely required to file an information return to the IRS.

Who is not required to file information returns?

You are not required to file information return(s) if any of the following situations apply:

• You are not engaged in a trade or business.
• You are engaged in a trade or business and the payment was made to another business that is incorporated, but was not for medical or legal services or the sum of all payments made to the person or unincorporated business is less than $600 in one tax year.

Additional Information:
Do not file Copy A of information returns downloaded from the IRS website. The official printed version of the IRS form is scannable, but the online version of it, printed from the website, is not. A penalty may be imposed for filing forms that cannot be scanned.
Three copies must be filled out.

• Submit Copy A for the IRS.
• Submit Copy B for the recipient of the distribution.
• Submit Copy C for any applicable state, city, or local tax department.

How to fill out Form 1099-R?

The estimated time to complete the form is 25 minutes. Before filling out the form, make sure that the information given is correct. Write as legible as possible to avoid errors and the possible need for corrections.
There are two sections.
On the left side of the form:

• Provide the name, address, and taxpayer identification number (TIN) of the payer.
• Enter the name, address, and TIN of the recipient.
• Add the account number, for the payer to distinguish your account.
• Put the date of payment.

On the right side provide the following:

Box 1. Gross distribution.
The amount may have been a direct rollover, a transfer or conversion to a Roth IRA, a recharacterized IRA contribution; or you may have received it as periodic payments, nonperiodic payments, or a total distribution.

Box 2a. Taxable amount of the distribution.
If there is no entry in this box, the payer may not have all the facts needed to figure the taxable amount. In that case, the first box in box 2b should be checked.

Box 2b. Check the corresponding box that indicates whether or not the payer has determined the taxable portion of the distribution and whether it was a total or partial distribution of the plan balance.

Box 3. Portion of the distribution allocated to capital gains.
If you received a lump-sum distribution from a qualified plan and were born before January 2, 1936 (or you’re the beneficiary of someone born before January 2, 1936), you may be able to elect to treat this amount as a capital gain on Form 4972.

Form 4972 is used to figure out the tax on a qualified lump-sum distribution (defined below) you received in 2020 using the 20% capital gain election, the 10-year tax option, or both.

Box 4. Federal income tax withheld from the distribution.
If box 4 shows an amount (other than zero), attach Copy B to your return.

Box 5. Portion of the distribution allocated to employee contributions, designated Roth contributions or insurance premiums.
This box does not show any IRA contributions. If the amount shown is your basis in a designated Roth account, the year you first made contributions to that account may be entered in box 11.

Box 6. Net unrealized appreciation in employer’s securities.
If there is any increase in value of such securities while in the trust, it would only be taxed when you sell the securities unless you choose to include it in your gross income this year.

Box 7. A distribution code designed to specify the type of distribution received.
This could help the taxpayer determine whether their distribution is taxable. It is found at the back of copy C continued at the back of Copy 2.

Box 8. Other

Box 9a. Your percentage of total distribution.
If a total distribution was made to more than one person.

Box 9b. Total employee contributions.
The employee’s total investment in the contract.

Box 10. Amount allocable to IRR within five years
If any amount is indicated see Form 5329 and Pub. 575.

Form 5329 is used to report additional taxes on IRAs.

Publication 575, Pension and Annuity Income discusses the tax treatment of distributions you receive from pension and annuity plans.

Box 11. First year of designated Roth contributions.

Box 12. State tax withheld from the distribution.
If box 12 is checked, you may also have a filing requirement. See the Instructions for Form 8938.

Form 8938 is used to report your specified foreign financial assets if the total value of all the specified foreign financial assets in which you have an interest is more than the appropriate reporting threshold.

Box 13. Payer’s state identification number.

Box 14. Amount of state distribution.

Box 15. Local tax withheld from the distribution.

Box 16. Name of locality (if applicable).

Box 17. Amount of local distribution.

Where to file Form 1099-R?

All information returns filed on paper will be filed with only three Internal Revenue Service Centers: Austin, TX; Kansas City, MO; and Ogden, UT.
If your legal residence or principal place of business, or principal office or agency, is outside the United States, use the following address.

Department of the Treasury
Internal Revenue Service Center
Austin, TX 73301