Form 1099-R

DEFINITION of 'Form 1099-R'

An Internal Revenue Service (IRS) form with which an individual reports his or her distributions from annuities, profit-sharing plans, retirement plans, IRAs, insurance contracts and/or pensions. The following are some of the items included on the form: the gross distribution paid during the given tax year, the amount of the distribution that is taxable, the federal income tax that has been withheld, the contributions made to the investment or premiums paid, and a code that represents the type of distributions made to the holder of the plan.

BREAKING DOWN 'Form 1099-R'

The plan custodian sends the form to the owner of a plan if he or she has made distributions of $10 or more from the plan in a given year. The form is mailed to recipients by January 31 of the year after the distribution was made. In some cases, the individual needs to attach a copy of Form 1099-R to his or her tax return. The plan owner, the IRS and the municipal or state tax department (if applicable) all receive a copy of the form.

RELATED TERMS
  1. Dividend

    A distribution of a portion of a company's earnings, decided ...
  2. Annuity

    A financial product that pays out a fixed stream of payments ...
  3. Distribution

    1. When trading volume is higher than that of the previous day ...
  4. Profit-Sharing Plan

    A plan that gives employees a share in the profits of the company. ...
  5. Traditional IRA

    An individual retirement account (IRA) that allows individuals ...
  6. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
Related Articles
  1. Taxes

    Retirement Plan Tax Form 5329: When To File

    Read this if you've taken early distributions or owe excess-contribution or excess-accumulation penalties.
  2. Taxes

    Retirement Plan Tax Form 8606: When To File

    If you have a Roth IRA, you are responsible for keeping track of your pretax versus after-tax assets.
  3. Taxes

    Surviving The IRS Audit

    Keeping thorough records and knowing the penalties make this experience easier than you'd expect.
  4. Taxes

    Unexpected 1099-R Form: What To Do

    Did your IRA custodian report distributions you thought were non-reportable? Find out what went wrong.
  5. Financial Advisor Technology

    This Annuity Robo Wants to Transform the Market

    Annuities picked and sold without the intervention of an insurance agent? Here's a website that's trying to be the robo-advisor of the annuity world.
  6. Investing Basics

    DIY Annuities: What You Need to Know

    Annuities are attractive because they can give you a stream of income, but they can be tricky to buy.
  7. Products and Investments

    Some Annuities Lose Fiduciary Rule Exemption

    Fixed-indexed annuities have lost an exemption under the final fiduciary rule, a move that wasn't expected.
  8. Products and Investments

    Longevity Annuities: A Salve for Volatility?

    Recent market volatility has led some investors to take a second look at longevity annuities. Here's when they are a good idea for clients.
  9. Term

    What's an Ordinary Annuity?

    An ordinary annuity is a series of equal payments made at the end of each period over a fixed amount of time.
  10. Retirement

    What Role Should Annuities Play in Retirement?

    Fixed annuities can provide income protection for those worried about outliving their assets. But don't buy a bigger policy than you really need.
RELATED FAQS
  1. If there are two plans and one is terminated, creating a distributable event, can ...

    It depends. If the loan is in good standing - the participant did not default on the loan and the loan meets other statutory ... Read Answer >>
  2. If I roll my annuity into an IRA and receive after-tax distributions, will this be ...

    Distributions of after-tax amounts (amounts already taxed) will not be taxable when distributed to you. However, you will ... Read Answer >>
  3. Will I incur a tax penalty when making withdrawls from my IRA in excess of my SEPP?

    Unfortunately, the IRA is "locked" for five years because of the requirement that the substantially equal periodic payment ... Read Answer >>
  4. Can I borrow from my annuity to put a down payment on a house?

    Learn how you can borrow money from an annuity for a house down payment, but also understand why fees and penalties make ... Read Answer >>
  5. What is a tax-free 1035 Exchange?

    A Section 1035 Exchange refers to the replacement of an annuity or life insurance policy for a new one without incurring ... Read Answer >>
  6. How are life insurance proceeds taxed?

    Generally, life insurance death benefits that are paid out to a beneficiary in lump sum are not included as income to the ... Read Answer >>
Hot Definitions
  1. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  2. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
  3. Generally Accepted Accounting Principles - GAAP

    The common set of accounting principles, standards and procedures that companies use to compile their financial statements. ...
  4. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
  5. Call Option

    An agreement that gives an investor the right (but not the obligation) to buy a stock, bond, commodity, or other instrument ...
  6. Economies Of Scale

    Economies of scale is the cost advantage that arises with increased output of a product. Economies of scale arise because ...
Trading Center