topic IRA NO WH NO 1099 EXCEPT SUB PMNT. What does it mean? in Get your taxes done using TurboTax

IRA NO WH NO 1099 EXCEPT SUB PMNT. What does it mean?

evanfus — Mon, 09 Mar 2026 04:57:01 GMT

Last year, I got a notification that my two IRA accounts changed firms from Wealthsimple to Betterment. I was told that Apex Clearing will provide information on the old accounts.

When the pandemic first hit in March 2020, I had to transfer my 401k from my old job into two IRA accounts and was notified that Empower Retirement transferred them to Wealthsimple.

I got around to getting an Apex Clearing account with the two old account numbers to file taxes for 2021. The withholding status for those two accounts is IRA NO WH NO 1099 EXCEPT SUB PMNT.

I have been trying to contact Apex but have been transferred to numbers that cannot take my call or get a straight answer. It's either a yes or no without a silly song and dance. A small cynical thought I had was some action is hidden from me and I am just wasting my time chasing something that is non-existent. I am not frustrated, I am saving myself from being frustrated about this.

I would like to know what that means. Is it possible I might get a 1099 to file? If it's just a 5498 form I might be getting, please let me know. Thank you. Any help is greatly appreciated.

Re: IRA NO WH NO 1099 EXCEPT SUB PMNT. What does it mean?

BillM223 — Fri, 25 Feb 2022 20:46:37 GMT

A trustee-to-trustee transfer of assets from a 401(k) plan to an IRA normally does not need a 1099-R, and most 401 administrators won't issue a 1099-R even of you ask. That's OK, because the IRS doesn't ant to know about tax-free transfers like this.

On a year-to-year basis, you don't normally report IRA accounts on your tax return, unless you are putting money into the IRA or withdrawing money from the IRA (the latter will generate a 1099-R).

So did you make any contributions to or take any distributions from these two IRAs? If not you probably won't be getting any paperwork, except for a 5498, which you don't enter into TurboTax anyway.

Re: IRA NO WH NO 1099 EXCEPT SUB PMNT. What does it mean?

evanfus — Fri, 25 Feb 2022 21:05:37 GMT

Much appreciated of the answer. Contributions or my interactions of those IRA’’s on my end happened in 2020 and was filed in 2020. The transfer I have on question is Trustee-to-Trustee since the only action I took was opening the email of this happening.

I think I might have a direction to go but thank you!