Guest lindamichals Posted October 24, 2006 Share Posted October 24, 2006 husband/wife owners in same plan divorced and qdro issued. husband's amount transferred to wifes account balance. No 1099R issued, correct? Thanks. Linda Link to comment Share on other sites More sharing options...
WDIK Posted October 24, 2006 Share Posted October 24, 2006 If I understand your scenario correctly and no distribution was made from the plan, then no 1099-R is required. ...but then again, What Do I Know? Link to comment Share on other sites More sharing options...
QDROphile Posted October 24, 2006 Share Posted October 24, 2006 That is not the correct accounting. If you commingle, you will not be able to determine the QDRO amount for various purposes, including distributions and 401(a) (9). Maybe that will be irrelevant as things play out, but what will you do if the alternate payee (still employed and age 50) requests a distribution in a few years? No 1099 for establishing an account for the QDRO proceeds. Link to comment Share on other sites More sharing options...
Guest zora Posted October 26, 2006 Share Posted October 26, 2006 It depends on what the QDRO and plan say. If the QDRO says she gets an immediate distribution, and if the plan permits a rollover contribution, then she gets a 1099R for the rollover. If the QDRO says or permits a deferral of distribution, and she does defer the distribution, then follow the plan which probably gives her a QDRO account. In that case it is the same as for any other QDRO. She should have two accounts though. Link to comment Share on other sites More sharing options...
Guest KimH Posted March 20, 2007 Share Posted March 20, 2007 If the money stays in the same plan, is this related rollover for purposes of top heavy testing? Link to comment Share on other sites More sharing options...
Mike Preston Posted March 20, 2007 Share Posted March 20, 2007 No, it is just a portion of the participant's account that is treated differently once it becomes time to distribute and possibly as to who has investment authority over it in the meantime. But it is still treated as the participant's for TH purposes. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now