damjam wrote:I did two transfers last year involving two different firms that I was taking money from, and did receive two 1099-Rs with code G in box 7 (rollover).
Upon further reflection I believe these transactions were not true trustee-to-trustee transfers.
The firms from which the funds were departing issued checks made out to the receiving firm, but mailed the checks to me. I then had to forward the checks onto the receiving firm. Even thought I never touched the money I did touch the checks. I remember a debate some time ago as to whether this scenario would constitute a direct trustee-to-trustee transfer or a direct rollover or even an indirect rollover. I guess we have our answer now.
You are correct, these were direct rollovers. Note that a non reportable transfer (no 1099R and no 5498) is limited to IRA to IRA transfers (except non Roth IRA to Roth IRA). Your G coded 1099R does not reflect such a transfer, but rather a "direct rollover". A direct rollover is always reportable even when the funds are physically moved directly between trustees. You would always receive a 1099R for a direct rollover. I assume that these checks were not issued by an IRA custodian but rather by a non IRA plan, and therefore you reported them on lines 16a and 16b of Form 1040. The only situation where a G code is used by an IRA custodian is when the IRA funds are moved by direct rollover into a qualified employer plan.