Beneficiary IRA trustee-to-trustee transfer

[melissaforpeace315]

Hi all!  I completed a Beneficiary IRA trustee-to-trustee transfer in the year of 2021 and am wondering if I should be receiving any tax documents?  

For clarification, I simply moved all my funds from one beneficiary IRA account to another beneficiary IRA without taking a distribution. so it's a like-kind, whole account transfer.   I didn't receive any tax documents from my old trustee, and didn't receive any tax documents from my new trustee regarding this transaction.

I thought I would receive a 1099-R from my old trustee, and a 5498 from my new trustee to record this rollover? am I wrong?  I messaged customer service of my old Beneficiary IRA trustee, and my new Beneficiary IRA, regarding these tax forms but they haven't gotten back to me, and now I'm nervous.

Any help would be greatly appreciated!

[DanaB27]

No, if you have a trustee-to-trustee transfer from one IRA to another then it you won't be receiving a 1099-R. Please double-check with your financial institute. 

[Edited 2/5/2022 | 12:12pm PST]

@melissaforpeace315 

[melissaforpeace315]

@DanaB27 Thank you! So I'm not supposed to be receiving any tax forms from my old Beneficiary IRA? They told me that I don't have any tax documents for 2021...

[FangxiaL]

A transfer of funds in your Beneficiary IRA from one trustee directly to another, either at your request or at the trustee's request, is not considered a rollover. Because there is no distribution to you, the transfer is tax-free. Trustee-to-trustee transfers are not required to be reported on Form 1099-R. So you won't be receiving one from the old trustee.

For a trustee-to-trustee rollover from a 401(k) into an IRA account, Form 1099-R will be issued reporting the 401(k) distribution.

@melissaforpeace315

[melissaforpeace315]

@FangxiaL thank you! Regarding : "For a trustee-to-trustee rollover from a 401(k) into an IRA account, Form 1099-R will be issued reporting the 401(k) distribution."......... does that mean that the IRA custodian should provide me with a 5498 to show that I had rolled over my old employer's 401k to an a rollover IRA?  I messaged the customer service group of my IRA custodian about why I didn't receive a 5498 from them, since I had completed a rollover from my 401k to IRA in 2021, but no answer yet......

[dmertz]

For a rollover from a 401(k) to an IRA, you should receive a Form 5498 from the IRA custodian showing the rollover contribution amount in box 2.  The custodian has until May to generate and file Form 5498.

[melissaforpeace315]

@dmertz Thank you! But if they have until May, then how do I file my 2021 taxes if the deadline for taxes is April?  I just don't include the tax document in filing my taxes?

[dmertz]

@melissaforpeace315 , you've mention both a trustee-to-trustee transfer of a Beneficiary IRA and an distribution and rollover of a 401(k), two different things.  A trustee-to-trustee transfer of a Beneficiary IRA from one custodian to another is not reportable at all.  A distribution and rollover from a 401(k) (whether an ordinary rollover or a direct rollover of an inherited 401(k) to a Beneficiary IRA) is reportable from the information on the Form 1099-R that reports the distribution from the 401(k), no need to have the Form 5498 from the IRA in hand.