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Level 2
posted Jan 29, 2022 1:38:26 PM

Roth IRA custodian to custodian direct transfer (rollover) Tax forms

I did a custodian-to-custodian transfer of my Roth IRA from TIAA to Fidelity in 2021, and now I am waiting for tax forms to file. My understanding is that it's a Roth to Roth transfer, and there is no tax reporting. Am I expecting a 1099-R or 5498 from TIAA? Thanks.

Note: I have received 5498 from Fidelity for the transfer and current year contribution of 2021. 

0 4 770
4 Replies
Level 15
Jan 29, 2022 2:00:58 PM

You will get a 1099-R but it will have a code in box 7 which will make the distribution tax free. 

Level 15
Jan 30, 2022 5:36:48 AM

A properly executed trustee-to-trustee transfer from a Roth IRA at one custodian to another is not a distribution or rollover and is nonreportable.  You should not receive any Form 1099-R or Form 5498 reporting this transaction.

Level 2
Jan 30, 2022 6:33:31 AM

I guess I will wait a bit to see if I am getting any form(s) before tax filing. 

Level 2
Mar 10, 2022 3:55:21 PM

No form was received. Called TIAA, and was told that there would be no form for the custodian to custodian transfer.