Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. - Form 1099-R

Form 1099-R is used to report distributions of $10 or more from profit-sharing or retirement plans, 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. to recipients.

Form 1099-R also reports death benefit payments made by employers that were not included in a pension, profit-sharing, or retirement plan, as well as reportable disability payments made from a retirement plan.

Generally, payments subject to withholding of social security and Medicare taxes are not reported on a 1099-R, nor are amounts totally exempt from tax, such as workers’ compensation and VA payments.

Among the information reported on the form is the gross distribution paid you over the year, the amount that is taxable, and the tax that has been withheld.

The form must be mailed to recipients by January 31 of the following year and in some cases the recipient must attach a copy to his or her tax return. The IRS also receives a copy of the form.