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posted Apr 14, 2024 10:50:26 PM

I received a 1099R but I don't know the company that sent it and I never took out any money from a retirement plan. Do I have have to put this form on my tax return?

I did change jobs during the year but I was never sent any money, and I didn't request to receive money. I have never heard of the company that sent the 1099R.

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1 Best answer
Level 15
Apr 15, 2024 7:49:13 AM

Check with your former employer.

IF you had some retirement income deductions there, that went into certain account types (usually a 401k or Roth 401k).....and if the balance in that account was below a certain value, they can close that account and send you the $$, (or roll into an IRA...I think).

 

The Payer you don't recognize, may be the Administrator of the retirement accounts for your former employer. 

You'd probably need to find a phone number for them Online (or ask your former employer), to call them to see what happened to the funds...maybe they are sitting an account for you to access them....or they sent a check that never got cashed....but might be able to be re-issued.

 

@lanawar 

2 Replies
Level 10
Apr 15, 2024 7:48:34 AM

If you don't include the 1099-R in your taxes, the IRS matching computers will eventually flag it as missing. I think you should call up the company and figure out what is going on. I suppose it could be a scam of some sort, but if legit the IRS will want it to match your return.

 

Usually there is something going on that the company can explain. 

 

There are ways to correct for a missing or incorrect 1099-r or W2. E.g. https://www.irs.gov/taxtopics/tc154

 

But I wouldn't use that until I understood why the company thought they should issue the 1099.

 

If I were you I would file an extension today (free, gives you until Oct 15 to file, so plenty of time to figure this out). Not an extension is not an extension of time to PAY, just to file. So if you owe money make a payment.

 

https://turbotax.intuit.com/irs-tax-extensions/

 

Level 15
Apr 15, 2024 7:49:13 AM

Check with your former employer.

IF you had some retirement income deductions there, that went into certain account types (usually a 401k or Roth 401k).....and if the balance in that account was below a certain value, they can close that account and send you the $$, (or roll into an IRA...I think).

 

The Payer you don't recognize, may be the Administrator of the retirement accounts for your former employer. 

You'd probably need to find a phone number for them Online (or ask your former employer), to call them to see what happened to the funds...maybe they are sitting an account for you to access them....or they sent a check that never got cashed....but might be able to be re-issued.

 

@lanawar