IRS

Form 1099-R

Rev. 2024

Distributions From Pensions, Annuities, Retirement Plans, IRAs

Reports distributions of $10 or more from retirement accounts, pensions, annuities.

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Plain English

Form 1099-R reports money you took out of a retirement account — whether it's a pension, 401(k), IRA, annuity, or profit-sharing plan. It shows the gross distribution and how much is taxable.

Quick Facts

Who: Anyone who received a distribution of $10 or more from a retirement account, pension, annuity, or insurance contract during the tax year.
What: Statement reporting distributions from retirement plans, IRAs, annuities, pensions, and insurance contracts — showing gross distribution and taxable amount.
When: Sent by the financial institution by January 31 of the year following the distribution.
Where: Received from the plan administrator or financial institution. Used to complete your tax return.
Why: Most retirement distributions are taxable as ordinary income. Early distributions (before 59½) may also be subject to a 10% penalty.
How: Review Box 1 (gross distribution), Box 2a (taxable amount), Box 4 (federal tax withheld), and Box 7 (distribution code). Report on Form 1040 accordingly.

Common Risks & Mistakes

  • •Missing the distribution code in Box 7 — code determines if early withdrawal penalty applies
  • •Not rolling over within 60 days — direct rollover avoids tax; indirect rollover has strict 60-day deadline
  • •Forgetting about the 10% early withdrawal penalty if under 59½ — unless an exception applies
  • •Incorrectly reporting Roth IRA distributions — qualified Roth distributions are tax-free but must be reported
  • •Not withholding enough tax — you can elect withholding on the 1099-R distribution

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Field-by-Field Guide

Payer
Payer's Name, Address, EINREQUIREDtext

Financial institution or plan administrator that made the distribution.

Recipient
Recipient's TIN & NameREQUIREDtext

Account holder's SSN and name.

Box 1
Gross DistributionREQUIREDamount

Total amount distributed from the account before taxes.

Box 2a
Taxable AmountREQUIREDamount

Portion of distribution that is subject to income tax.

Box 4
Federal Income Tax Withheldamount

Federal income tax withheld from the distribution (typically 20% for eligible rollover distributions).

Box 7
Distribution CodeREQUIREDtext

Code indicating the type of distribution (1=early, 2=early exception, 4=death, 7=normal, G=direct rollover, etc.)

e.g. 7 — Normal distribution (age 59½+)

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Form Stats

6
Fields
5
Required
6
Sections

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Disclaimer: We do not provide legal advice. We translate legal language into plain English and help you prepare for a conversation with a lawyer.