I see. In this case it should just be reported on the 2020 tax return as a normal distribution with the gross amount in boxes 1 and 2a, box 2b taxable amount not determined marked, code 7 in box 7 and the IRA/SEP/SIMPLE box marked. Any amount withheld for taxes (perhaps all of it) must be shown in the tax withholding boxes on the form.
Contact he bank to obtain a correction. Ideally you would receive a corrected code R Form 1099-R showing zeros where there had previously been dollar amounts (essentially cancelling out the code R Form 1099-R) and also a the new code 7 2020 Form 1099-R described above. The bank might just choose to issue a single Form 1099-R just correcting the box 7 code, the box 2a amount and the marking of the IRA/SEP/SIMPLE box and box 2b Taxable amount not determined, but that sort of correction can be a bit ambiguous in it's meaning. This code 7 2020 Form 1099-R will be reportable and taxable on your 2020 tax return, with the withholding also credited on your 2020 tax return.
