What is a 1099-R?
Form 1099-R is used to report distributions from pensions, retirement or profit-sharing plans, annuities, any IRA or an insurance contract. A 1099-R form must be provided to the recipient and a copy mailed or e-filed to the IRS.
Why do I file Form 1099-R?
The IRS requires that all income is reported by businesses and individuals or penalties could apply.
Who needs to file Form 1099-R?
Any organization that has made designated distributions of $10 or more. See the official IRS instructions.
What to report
Distributions from retirement or profit-sharing plans, any IRA, insurance contracts or IRA re-characterizations.
Amount to report
$10 or more