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  • Apr 30, 2008, 12:46 PM
    oakers
    401k IRS distribution codes
    I am looking for a listing of distribution codes that are used by the IRS on 401k distributions.
  • Apr 30, 2008, 01:57 PM
    AtlantaTaxExpert
    You can find a complete list of the codes on the back of Form 1099-R, which can be downloaded from Internal Revenue Service.
  • Apr 30, 2008, 02:01 PM
    ebaines
    Here is the list of distribution codes that may be used in Box 7 of the 1099-R form -- this covers codes that would be used for 401(k) distributions as well as IRAs and other retirement plans:

    1—Early distribution, no known exception (in most cases, under age
    59½).
    2—Early distribution, exception applies (under age 59½).
    3—Disability.
    4—Death.
    5—Prohibited transaction.
    6—Section 1035 exchange (a tax-free exchange of life insurance,
    Annuity, or endowment contracts).
    7—Normal distribution.
    8—Excess contributions plus earnings/excess deferrals (and/or
    Earnings) taxable in 2008.
    9—Cost of current life insurance protection.
    A—May be eligible for 10-year tax option (see Form 4972).
    B—Designated Roth account distribution.
    D—Excess contributions plus earnings/excess deferrals taxable in
    2006.
    E—Excess annual additions under section 415 and certain
    Excess amounts under section 403(b) plans.
    F—Charitable gift annuity.
    G—Direct rollover of a distribution (other than a designated Roth
    Account distribution) to a qualified plan, a section 403(b)
    Plan, a governmental section 457(b) plan, or an IRA.
    J—Early distribution from a Roth IRA, no known exception (in
    Most cases, under age 59½).
    L—Loans treated as distributions.
    N—Recharacterized IRA contribution made for 2008 and
    Recharacterized in 2008.
    P—Excess contributions plus earnings/excess deferrals taxable
    In 2007.
    Q—Qualified distribution from a Roth IRA.
    R—Recharacterized IRA contribution made for 2007 and
    Recharacterized in 2008.
    S—Early distribution from a SIMPLE IRA in first 2 years, no
    Known exception (under age 59½).
    T—Roth IRA distribution, exception applies.
  • Dec 11, 2012, 08:29 AM
    ohboybills
    After any termination my large Virginia based company states they will only release 20% of my 401K fund, per year. So it will take me 5 years to receive all my funds! Even on those funds I contributed, I am not allowed to take an immediate rollover to a new employer. (vs. their matched). How is this possible? Thank you. [email protected]
  • Dec 11, 2012, 08:40 AM
    AtlantaTaxExpert
    It should NOT be possible.

    After a set period (usually five years), you become vested in the plan and the money is yours.

    There should be NO restrictions on withdrawal or rollover.

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