Pension Distributions
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Answer Tax Questions1099-R Codes
Asked Wednesday, October 18, 2000 by an anonymous user
The codes identify the type of distribution, and whether a Form 5329 penalty is required.
Code 1 identifies the distribution as an early distribution with no known exceptions subject to the 10% IRS Form 5329 penalty.
Code 2 = early distribution but a exception applies and no penalty lis levied.
Code 3 = Disability and no penalty required.
Code 4 = Death and no penalty required.
Code 5 = Prohibited transaction.
Code 6 = Section 1035 tax free exchange.
Code 7 = Normal distribution and no penalty required.
Code 8 = Excess contribution.
Code 9 = Cost of current life insurance protection..
Code A = May be eligible for 5 or 10 year averaging.
Code B =designated Roth account distribution.
E—Distributions under Employee Plans Compliance Resolution System (EPCRS).
F—Charitable gift annuity
G—Direct rollover and rollover contribution.
H—Direct rollover of a designated Roth account distribution to a Roth IRA.
J—Early distribution from a Roth IRA.
L—Loans treated as deemed distributions under section 72(p).
N—Re-characterized IRA contribution made for 2012.
P—Excess contributions plus earnings/excess deferrals taxable in 2012.
Q—Qualified distribution from a Roth IRA.
R—Re-characterized IRA contribution made for 2012.
S—Early distribution from a SIMPLE IRA in the first 2 years, no known exception.
T—Roth IRA distribution, exception applies.
U—Dividends distributed from an ESOP under section 404(k).
W—Charges or payments for purchasing qualified long-term care insurance contracts under combined arrangements.
Code 1 identifies the distribution as an early distribution with no known exceptions subject to the 10% IRS Form 5329 penalty.
Code 2 = early distribution but a exception applies and no penalty lis levied.
Code 3 = Disability and no penalty required.
Code 4 = Death and no penalty required.
Code 5 = Prohibited transaction.
Code 6 = Section 1035 tax free exchange.
Code 7 = Normal distribution and no penalty required.
Code 8 = Excess contribution.
Code 9 = Cost of current life insurance protection..
Code A = May be eligible for 5 or 10 year averaging.
Code B =designated Roth account distribution.
E—Distributions under Employee Plans Compliance Resolution System (EPCRS).
F—Charitable gift annuity
G—Direct rollover and rollover contribution.
H—Direct rollover of a designated Roth account distribution to a Roth IRA.
J—Early distribution from a Roth IRA.
L—Loans treated as deemed distributions under section 72(p).
N—Re-characterized IRA contribution made for 2012.
P—Excess contributions plus earnings/excess deferrals taxable in 2012.
Q—Qualified distribution from a Roth IRA.
R—Re-characterized IRA contribution made for 2012.
S—Early distribution from a SIMPLE IRA in the first 2 years, no known exception.
T—Roth IRA distribution, exception applies.
U—Dividends distributed from an ESOP under section 404(k).
W—Charges or payments for purchasing qualified long-term care insurance contracts under combined arrangements.
