I rolled over two traditional 401k's into a third 401k. I only received a 1099r from one of the two originating 401k's. Should I just report the one 1099r on my 1040?

[standena1]

This was a trustee to trustee rollover; the money never hit my account.  I called the 2nd originating 401k servicer and they said that, because it was a trustee-trustee rollover, it is their discretion whether to issue 1099r's, so they choose not to issue them.  Should I just report the one Form 1099-R that I received on my Form 1040 or should I use the Form 5498 to report the entire amount?  None of this is subject to tax.

[Anita01 · Accepted solution]

Just report the one you received.  They are correct in what they told you.  The 5498 is informational only, it's not something you enter into your tax return.

[dmertz]

Are you sure that originating and receiving accounts are 401(k) accounts?  I suspect not.  A trustee-to-trustee transfer of an IRA to another IRA of the same type must not be reported.  It is neither a distribution nor a rollover.

A 401(k) and an IRA are two different kinds of accounts.  Any account from which you receive a Form 5498 is an IRA, not a 401(k).

With regard to a direct rollover from a 401(k), it's entirely untrue that the reporting of a direct rollover of a distribution from a 401(k) is discretionary.  It is required to be reported.  From the Instructions for Form 1099-R, page 3, Direct Rollovers:  "You must report a direct rollover of an eligible rollover distribution."  Since the plan refuses to issue the required reporting, I suggest contacting the IRS as described in Tax Topic 154:  https://www.irs.gov/taxtopics/tc154

[dmertz]

I've revised my answer.  I suspect that these are *not* 401(k) accounts (except perhaps the one from which you received a Form 1099-R).