dmertz
Level 15

Retirement tax questions

GREYvee, perhaps your employer's plan was a SEP or SIMPLE IRA, in which case the movement of the account would be a simple non-reportable trustee-to-trustee transfer of the account (and generally would have not been necessary to move), in which case the Form 5498 should also not show it in any of the boxes except box 5 (FMV).

 

If the employer plan was a 401(a), 401(k), 403(b), 457(b), ESOP or the federal TSP, reporting on both Forms 1099-R and 5498 is required and you must to contact the plan to obtain the missing Form 1099-R.  Other than to inform you of the FMV and any requirement to take an RMD, the Form 5498 is mainly used to confirm to the IRS that you made a contribution to the IRA, in this case a rollover contribution.  It is not needed for preparing your tax return.  Only the Form 1099-R is reported on your tax return, along with answering the questions to indicate what you did with the distribution.