I was given a 403(b) by my employer a month before I left the organization, and ended up contributing a very small amount (matched by the employer) - just over $50 total. I was given a login but never any documentation. I did not even realize I had the account until a relative was helping me do our taxes last spring (2021). At that time, it was very confusing - the latest statement showed that my full balance had been distributed, but I didn't know why, since I certainly didn't initiate it.
Fast forward a year. I get a 1099-R from the organization for that distribution, but haven't seen the money anywhere. I also get a single sheet of paper in the mail from another organization that states, "You have a Retirement Clearinghouse IRA established by a former employer."
After investigating, it looks like my 403(b) was - completely without ANY notice to me - rolled over to Retirement Clearinghouse. Just over half was invested, with an additional $25 being converted to cash for fees, which were then subtracted from the account at $2.50 a month. This happened between March 2021 and March 2022. The first I ever heard about it was just a week ago - March 2022.
I'm now filing my taxes and need to figure out what to do with the 1099-R from my defunct 403(b). The "distribution" never reached me and is now nearly worthless because of all the fees that were taken out. I investigated the account at Retirement Clearinghouse and see that there are fees ranging from $30 to $59 that I would be charged should I try to retrieve or roll over my money, so basically it's just completely gone.
Do I still report the "distribution" on my taxes as if I received it? Is there any way to report the fees that Retirement Clearinghouse took out of my account, in order to show that I in fact did not receive the distribution? I've never heard of anything like this happening, and didn't even know that I should be on the lookout for it. The organization that originated my (granted, very small) retirement account provided me with no information whatsoever about what was happening to my account.
