I made a direct rollover of an old Roth IRA from one institution to another. Should I be receiving a 1099-R? I know no tax is due but I thought I should still get a 1099-R? Or is that only for Traditional IRA rollovers? My old institution is saying they don't need to issue anything since there is nothing to report.
If the funds were moved from one Roth IRA to another by trustee-to-trustee transfer, that is neither a distribution nor a rollover and is not reportable. Only if the funds were paid to you and you deposited the funds within 60 days to another Roth IRA would it be a distribution and rollover.
The term "direct rollover" only applies to the rollover of funds to or from a qualified retirement plan like a 401(k). The movement of funds between two Roth IRAs is never to be referred to as a direct rollover. Movement of funds between Roth IRAs is always either an ordinary (indirect) rollover or it's a nonreportable transfer.
If the funds were moved from one Roth IRA to another by trustee-to-trustee transfer, that is neither a distribution nor a rollover and is not reportable. Only if the funds were paid to you and you deposited the funds within 60 days to another Roth IRA would it be a distribution and rollover.
The term "direct rollover" only applies to the rollover of funds to or from a qualified retirement plan like a 401(k). The movement of funds between two Roth IRAs is never to be referred to as a direct rollover. Movement of funds between Roth IRAs is always either an ordinary (indirect) rollover or it's a nonreportable transfer.