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How do we get 1099-Rs for solo401k?
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7 Replies
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Hello, in 2024, I made a few contributions to my solo401k after-tax account at Fidelity and then converted that money into the solo401k roth at Fidelity. I filled out the 1099-R on the mysolo401k.net each time.
I assumed that in 2025 I would get the formal 1099-R forms but now I am uncertain.
Will I get a 1099-R form? How will I get it? Email?
I looked to login and try to find a “download tax forms” section or something similar, but I cannot find anything like that.
Don’t I need these 1099-Rs?
Thanks in advance for your help!
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If we filed them on paper with the IRS they would need to be filed by February 28 with the IRS and provided to the client by January 31.
However, we file them electronically with the government by the deadline of March 31 since we file them electronically so we provide them by February 28 to the client.
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Yes, as Schwab does not issue Form 1099-Rs for voluntary after-tax conversions.
We issue them for client’s who request it by completing the applicable conversion form on our site. https://www.mysolo401k.net/learn/forms/
mysolo401k.net
Forms - My Solo 401k Financial
My Solo 401k Financial offers self-directed Solo 401k, IRA LLC & ROBS 401K Retirement Plans. Learn about Forms
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In short: yes and yes
The contribution to the Solo 401k will count toward the 2024 limit as long as it is made by the business tax return deadline, including extensions in 2025.
Regarding Form 1099-R for the conversion from the after-tax Solo 401k account to the Roth Solo 401k, Schwab does not generate this form for Solo 401k transactions. Instead, we handle the preparation of Form 1099-R.
The Form 1099-R is prepared for the year in which the transfer from the after-tax Solo 401k to the Roth Solo 401k occurs. This means that if the conversion takes place in 2025, the Form 1099-R will be issued for the 2025 tax year and made available in early 2026 for tax reporting purposes. iMPORTANT NOTE: This doesn’t change or impact the year for which the contribution is made.
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