My employer allows me to contribute to both a before tax 401-K and a company savings plan (after-tax). I can do in-service distributions from the after-tax savings plan directly into a Roth IRA. I contribute the maximum to both the before tax and after tax plans the IRS allows.
After allowing these savings to build up for several years, I recently rolled the after tax portion of my savings to a Roth IRA. When I did that, I was told I also had to roll the earnings off that money over to a pre-tax Rollover IRA. A Form 5498 was generated for both of those transactions. I was told that neither transfer would create a taxable event.
So what do I do with these Form 5498s? I'm a little confused because the title states 2021 IRA Contribution Informatin. I also contributed the max to a Roth IRA independent of the company savings plans.
