No, you do not need to report. Besides, you do not need to report Form 5498, either. It is your contribution information and not required to be filed.
If you roll over funds from a 401(k) to a traditional IRA, you won't have to pay taxes on the rollover. Your money will remain tax-deferred, and you won't be taxed on it until you withdraw money from it permanently.
@jinyehe
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