Hello,
_Took an early retirement - end of 2019
_Up to that tax year my name, per W2, showed with middle initial (never had issues with TTax or IRS)
_As of 2020 taxYr, per 1099R (living on my savings since May of 2020) only showed first and last name (no issues filling when filed '20,'21 n '22), since my 401k was set up that way over 24+ years ago.
_Now I am trying to Rollover the 401k into a Rlvr Traditional IRA, which the IRA is set up (haven’t initiated the rollover yet) with Middle initial, but the 401k account is just 1st and last name. I am assuming once the funds are rolled over and I start taking money to live on the 1099R will be like the other years ('19 and beyond, which had no issues).
I have read and read (on this site too) that IRS does only cares if first 4 letters of last name, SSN and BD match.
Do I need to close that Rlvr IRA account and start one with just 1st and last name then rollover the funds, or based on how in the past middle initial was on the tax form and then last three years was not and never having an issue, which sort of confirms my findings on how IRS looks at the names I am okay to just use the Rlvr IRA with middle initial appearing, hence will be on portion of the 2023 1099R, since up to now the 1099R that I will receive will have only the 1st and last name (as I mentioned above that it was from the 401k account). I hope I am clear.
Please let me know if I should add more information. I thank you for your help!
p.s. Hope this does not makes the matters worse: I never had a middle name. Over 40 years ago I applied for a job and the name was given to me (like a nickname- Micheal _Spelling is correct here). It was used at my work, bank, CCs and things like that_ Passport, Citizenship Cert., Driver's license and things more related in that manner I used what was on my SS card!
