1099-R - Overview

File Form 1099-R for each person to whom you have made a designated distribution or are treated as having made a distribution of $10 or more from:

Profit-sharing or retirement plans.
Any individual retirement arrangements (IRAs).
Annuities, pensions, insurance contracts, survivor income benefit plans.
Permanent and total disability payments under life insurance contracts.
Charitable gift annuities, etc.

Deadlines

See below for the deadlines relevant to the Form 1099-R:

January 31st is the last day to deliver forms to recipients
March 31st is the last day to submit filings

If a deadline falls on a weekend or holiday, it will be extended to the next business day. A 30-day extension is generally available for both of the deadlines above.

Resources

Please see the Form 1099-R – IRS Form & Instructions for official IRS information.

Below are the applicable CSV Ingestion Templates:

IRA Account Owner/Account CSV Template
Transactions CSV Template
1099-R Form Data CSV Template – Only required if not sending transactions

A sample form is also attached to the bottom of this article for your reference.

Data Requirements

See below for all of the required data elements for completing Form 1099-R reporting.

Filing Entity

The legal entity responsible for the issuing forms will be the filing entity. The information listed below must be submitted through the Taxbit Dashboard.

For more information on Filer setup, please refer to this guide: Filer Setup

Field Name	Required
Name	Required
Address	Required
Tax Residency	Required
US TIN	Required
Contact Phone Number	Required

Account Owner / Account

For ingestion purposes, the only data point required to create/update an Account Owner is the Account ID. This allows you to add all of your users to the Dashboard, even while you may still be collecting additional information. There will be reports available in the Dashboard to let you know if something is missing for an Account that is eligible for a tax form.

For more information on formatting the Account Owner/Account CSV templates, please refer to this guide: Standard Account Owner/Account - CSV Ingestion Template Guide

The following table, however, summarizes the required fields needed to complete the Form 1099-R.

Field Name	Required
Account Owner ID	Only required if you have Account Owners with multiple Accounts
Account ID	Required
Name	Required
Joint Account Name	If Applicable
Address	Required
Tax Residency	Presumed US if unavailable
TIN	Required
Date of Birth	Required in order to perform RMD calculation If not provided, the system will assume RMD is not required
Account Establishment Date	If Available
Filer ID	Only required if you have multiple Filers

Note that there are other fields on the Account Owner / Account model that are not listed here, as they are not required for 1099-R reporting.

In addition to the above, after the end of the year, the fair market value of the Account will also need to be provided.

Field Name	Required
Account ID	Required
End of year fair market value of the Account	Required

Transactions or Form Data

For account activity, we can either collect raw transaction data, in which case Taxbit will complete the aggregations and determine the ultimate data to report on the Form 1099. If you are doing the aggregations already, then we also offer the option of sending us Form Data, which would include the final amounts that go on the form.

Transactions

For transactions, only the Distribution transaction type is relevant. These transactions will require some additional information, such as the distribution code indicating the type of distribution.

Field Name	Distribution
Account ID	Required
Transaction ID	Required
Date and Time	Required
Transaction Type & Subtype	Required: Distribution
Received Asset Quantity, Currency, and Rate/USD Value	Not Applicable
Sent Asset Quantity, Currency, and Rate/USD Value	Required
Fee Asset Quantity, Currency, and Rate/USD Value	If Applicable
Distribution Code	Required See here for all of the available codes
Total Distribution	If Applicable
Federal Withholding Quantity in USD	If Applicable
State Withholding Quantity in USD	If Applicable

Form Data

To the extent transactions are not being provided, and Taxbit is not handling aggregations, the following data points must be provided for Form Data ingestion.

Note that there should typically be a single row for each Account in the template; however, if there are multiple distribution codes or the income applies to multiple states, there may be a separate row for each distribution code and state combination. The state field is only required if there is state withholding, or if the income is attributable to a state that is different from the Account Owner’s address.

Field Name	Required
Account ID	Required
Gross distribution (Box 1)	Required
Distribution code(s) (Box 7)	Required
Taxable amount (Box 2a)	Either: Taxable amount must be provided, or Taxable amount not determined must be TRUE Note that certain distribution codes will require that the taxable amount be provided.
Taxable amount not determined (Box 2b)
Total distribution (Box 2b)	If Applicable
Your percentage of total distribution (Box 9a)	If Applicable
Federal income tax withheld (Box 4)	If Applicable
State (Box 15 - 1)	Only required if there is state withholding, or the income is applicable to a state that is different from the address state
State tax withheld (Box 14)	If Applicable
Payer's state number (Box 15 - 2)	If Applicable
State distribution (Box 16)	If Applicable
Local tax withheld (Box 17)	If Applicable
Name of locality (Box 18)	If Applicable
Local distribution (Box 19)	If Applicable
Capital gain (included in box 2a) (Box 3)	Not Supported
Employee contributions/Designated Roth contributions or insurance premiums (Box 5)
Net unrealized appreciation in employer's securities (Box 6)
Other (Box 8)
Other percentage
Total employee contributions (Box 9b)
Amount allocable to IRR within 5 years (Box 10)
1st year of desig. Roth Contrib. (Box 11)
Date of payment (Box 13)

SAMPLE-123_1099R_2024_0.pdf

2026_1099R_Submission_Review_SAMPLE.zip