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Las Vegas Nevada Form Instruction 1099-R & 5498: What You Should Know
The same rules apply on the 5498 for 2017. It has to be filed and provided by January 31, 2019. Mar 3, 2025 BE -- I'm sure there are more. So What is the IRS's Position on a Form 5498 Withdrawal from a 401k? According to the IRS, a person who has withdrawn 100% of their 401k contribution for personal use during a year (before October 1st) is considered to have withdrawn 100% of an employee contribution. It can also mean for tax purposes, the 401k is considered to have zero balance and to have been paid out to the individual on August 31st. This means that if you withdraw your 401k 100% during the year, it is considered to have been a taxable distribution from your 401k, but it doesn't mean that the 401k is taxable to you. The IRS has a great video explaining all this, the link is on the IRS site: This should answer the questions most people are likely asking: When will the IRS send the Form 5498 to my employer, and what should I send it to? You should expect to receive Form 5498 after the deadline to file it for the next calendar year. If no 5498 is filed, you may want to file Form 6251. If the filing is approved, you will receive a Form 5498 in early March, and the form will be sent to your account as soon as it is available. It should generally take up to 4 weeks after the 5498 is approved for the IRS to send it to your employer. I have included an attached letter in this blog post explaining the basics of how to update the form on this page. I don't have to do anything different. Just keep the “2017” date in the box next to the line “5498(s) for 2025 through 2017” (The “6251” line of Form 5498 is for the 2025 year.) When will my current 401k rollover distribution, if any, go to the Roth IRA? If your 401k rollover distribution was previously reported and paid by you, it does go to your Roth IRA, but no additional tax is applied to it.
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