If you make a direct transfer from a pension or 401k to an IRA, is the employer required to issue a 1099R since it is a non-taxable transaction? Does it need to go on the tax return if it was not issued and the employer is out-of-business?
Yes, it has to be reported. The 1099-R will probably have code G in box 7. It will go on the tax return line 16a, non-taxable pensions. It makes no difference to your taxes.
"Luka" wrote
Yes, although technically it would be issued by the plan administrator.
Yes. Just because you didn't get any paperwork doesn't mean it wasn't sent to the IRS.
Line 16a for the distributions. But line 16b is left blank because it wasn't taxable.
Luka,
On a different note, if your employer went into bankruptcy you might be eligible for contributing 8000 to your IRA account. Call IRS or check their publication 590.
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