Next, open the 1099-R documents you just downloaded, and:
- Confirm your information is correct as payer (generally your 401k trust) and recipient (generally your or your spouse's information as participant)
- Enter in any remaining information. This may include, but is not limited to federal, state, and local taxes
- Send a copy to the IRS if applicable
- File a copy with your state or local government as required
If you want to create another 1099-R form, just click the button below. Remember that you should complete form 1099-R anytime you are removing funds from the Solo 401k.
NOTE: Our form preparation software will input some basic information for your 1099-R.
However, you are still required to input information such as tax withholding, if applicable. You are also responsible for filing the form with your income tax return and getting a copy to the IRS, if applicable.
Please note calculating tax withholding for applicable federal/state/local income taxes is solely the responsibility of the Solo 401k trustee (you).