dmertz
Level 15

Retirement tax questions

Do you know if the distribution to you from the settlement fund will be reported on Form 1099-R?  If the new account is an IRA and the distribution from the settlement fund is reported on Form 1099-R as a distribution (likely code 1), you would probably need to deposit it as a rollover so that the IRA reports it on Form 5498 as a rollover.