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Rollover from 401K to an annuity

1 reply
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I made a rollover from a Fidelity Institutional 401K account, into an Athene Annuity in 2016. I didn't receive the form 1099-R from idelity, but pulled it from my account on the web site. I also didn't receive the form 5498 from Athene, to report that it was rolled over into an annuity (also tax-deferred for retirement). Do I need to report this?

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dmertzAnswer

Level 15

Yes, this is a rollover that must be reported even though it is considered income that is not taxable. Enter the Form 1099-R under Wages & Income (or Personal Income) -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099-R), then answer the follow-up questions. If the code in box 7 of the Form 1099-R is G, simply indicate that the rollover was not to any type of Roth account.

dmertzAnswer

Level 15

Yes, this is a rollover that must be reported even though it is considered income that is not taxable. Enter the Form 1099-R under Wages & Income (or Personal Income) -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099-R), then answer the follow-up questions. If the code in box 7 of the Form 1099-R is G, simply indicate that the rollover was not to any type of Roth account.