Confused, Vanguard says I'm not getting a 1099-R

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Confused, Vanguard says I'm not getting a 1099-R

Postby bman3 » Fri Feb 08, 2013 9:15 pm

In 2012 I did a rollover from a previous employer's 401k plan to a new Vanguard IRA. Charles Schwab sent me a check, which I then sent to Vanguard. Shouldn't I be getting a 1099-R form for this? This is the first time I've done a rollover so I have no past experience to go on. I called Vanguard and talked to a representative who said I will not be getting a 1099-R. I thought I'd ask here to make double sure that this is correct. I am afraid of messing up my taxes and would like to avoid any screwups.
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Re: Confused, Vanguard says I'm not getting a 1099-R

Postby billern » Fri Feb 08, 2013 9:18 pm

bman3 wrote:In 2012 I did a rollover from a previous employer's 401k plan to a new Vanguard IRA. Charles Schwab sent me a check, which I then sent to Vanguard. Shouldn't I be getting a 1099-R form for this? This is the first time I've done a rollover so I have no past experience to go on. I called Vanguard and talked to a representative who said I will not be getting a 1099-R. I thought I'd ask here to make double sure that this is correct. I am afraid of messing up my taxes and would like to avoid any screwups.
Vanguard has no idea whether or not you will get a 1099-R as they did not make the distribution. That is really an issue for your prior employer and/or Charles Schwab.
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Re: Confused, Vanguard says I'm not getting a 1099-R

Postby BolderBoy » Fri Feb 08, 2013 9:19 pm

You should get a 1099-R from the place FROM which you rolled over the money; not the place TO which you rolled over the money.
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Re: Confused, Vanguard says I'm not getting a 1099-R

Postby mickeyd » Fri Feb 08, 2013 9:26 pm

In 2012 I did a rollover from a previous employer's 401k plan to a new Vanguard IRA.


A rollover from a 401(K) to an IRA is not a taxable event as far as I know.
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Re: Confused, Vanguard says I'm not getting a 1099-R

Postby livesoft » Fri Feb 08, 2013 9:27 pm

Schwab has already given you a 1099-R.
Vanguard should give you a Form 5498. It may have been included in the last statement of the year.
It's all about short-term opportunistic rebalancing due to a short-term change in one's asset allocation, uh, I mean opportunistic rebalancing, uh I mean rebalancing, uh I mean market timing.
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Re: Confused, Vanguard says I'm not getting a 1099-R

Postby billern » Fri Feb 08, 2013 9:42 pm

mickeyd wrote:
In 2012 I did a rollover from a previous employer's 401k plan to a new Vanguard IRA.


A rollover from a 401(K) to an IRA is not a taxable event as far as I know.
No but the distribution is often reported on a 1099-R because the 401k plan does not know that it was rolled over.
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Re: Confused, Vanguard says I'm not getting a 1099-R

Postby rustymutt » Fri Feb 08, 2013 9:43 pm

livesoft wrote:Schwab has already given you a 1099-R.
Vanguard should give you a Form 5498. It may have been included in the last statement of the year.


Have you talked with a Vanguard agent about how it works?
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Re: Confused, Vanguard says I'm not getting a 1099-R

Postby cherijoh » Fri Feb 08, 2013 9:53 pm

livesoft wrote:Schwab has already given you a 1099-R.
Vanguard should give you a Form 5498. It may have been included in the last statement of the year.


I have always gotten the form 5498 in May of the following year - I think it is related to being able to make IRA contributions up to 4/15 of the following year. It is the 1099-R which must be distrubuted by 1/31. And the 1099-R would of course come from the institution that SENT the money to you, as pointed out by several other posters.
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Re: Confused, Vanguard says I'm not getting a 1099-R

Postby rustymutt » Fri Feb 08, 2013 9:55 pm

cherijoh wrote:
livesoft wrote:Schwab has already given you a 1099-R.
Vanguard should give you a Form 5498. It may have been included in the last statement of the year.


I have always gotten the form 5498 in May of the following year - I think it is related to being able to make IRA contributions up to 4/15 of the following year. It is the 1099-R which must be distrubuted by 1/31. And the 1099-R would of course come from the institution that SENT the money to you, as pointed out by several other posters.



Yeah, ours comes after tax filing deadline of April 15th.
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Re: Confused, Vanguard says I'm not getting a 1099-R

Postby bman3 » Fri Feb 08, 2013 10:03 pm

Thanks so much all. I looked in my "Taxes" filing folder and found my 1099-R from Schwab. They must have sent it right after I did the rollover and I forgot all about it. Luckily, I filed it away and didn't lose it.
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