I am a little confused here while trying to find the answer. I had needed to withdraw about $5,000 from my 401k account earlier in the year. However, I have not received any tax paperwork for it (1099-R I think?) and there is no tax information on their website for me that I have found. I was deducted a fee for early withdrawal when I had done it. What do I need to do here if anything?
In the event that you can't get the 1099-R form, you may prepare a substitute 1099-R and enter the information about your withdrawal as accurately as possible. That includes your withdrawal amount is box 1, any tax withheld in box 4, a code in box 7 and any other information that you may have. You will be asked to write an explanation why the 1099-R is a substitute.
- Federal Taxes
- Wages and Income
- Scroll down to Retirement Plans and Social Security
- Select IRA, 401(k), Pension Plans (1099-R) and be sure to check the box I need to prepare a substitute 1099-R (see pic)
Note: Are you able to call the 401K administrator and inquire about the form?