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Full Version: What are IRS reportability requirements of Roth IRA transactions
BenefitsLink Message Boards > Retirement Plans > IRAs and Roth IRAs
donoharm
Are companies that manage Roth IRAs required to report to the I.R.S. a Roth IRA owner's annual contributions, interest payments and withdrawals, or is this solely the responsibility of the Roth IRA owner when he files his annual tax forms?
JAMES PATRICK
While I don't know the exact requirements I can tell you that they report contributions to you AND the IRS on form 5498 and they also report distributions to you AND the IRS on form 1099.
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