Do I need any tax forms showing the transfer of my IRA from one investment company to another?

Feb 01, 2018

I retired in 2014 and rolled over my 401(k) to an IRA. At the time, I received a 1099 from my 401(k) and a 5498 from the IRA investment company. In 2017, I transferred my IRA to a different investment company. I never took a distribution, only a transfer from one company to another. Do I need any tax forms from either company showing the transfer?

Generally, a trustee-to-trustee transfer of a traditional IRA does not result in the issuance of a 1099 and need not be reported on your tax return. It also does not require the receiving company to issue a Form 5498.

A direct transfer requires that none of the assets be delivered to the taxpayer.

For more resources, check out PICPA’s Money & Life Tips, Ask a CPA, or CPA Locator.

Answered by: Elizabeth W. Kidd, CPA, is a retired accounting instructor in Erie, Pa.

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