What Is Form 1099-R?

The Payment Settlement Entities (PSE) file a form 1099-R for payments made in settlement for a reportable payment transaction. These include payments made through credit cards, debit cards, gift cards, or through third-party networks.

When Do You Need to File 1099-R?

You must file a 1099-R for individuals who you made a distribution of $10 or more from pensions, retirement plans, annuities, profit-sharing plans, insurance contracts, etc.

You must also file to report death benefit payments made by employers that are not part of the pension, retirement plan, annuities, etc. 

Form 1099-R Deadlines For 2020

Following are the 1099-R due dates for each filing type. Forms must be transmitted to the IRS before the deadline.  

  • Recipient copy > January 31
  • IRS eFile > March 31 
  • IRS paper filing> February 28

If a due date falls on a weekend or holiday, it will be due the next business day. 

How to eFile 1099-R for the Year 2020?

Tax1099 is the go-to source for your 1099 filings. You can eFile Form 1099-R Online for the year 2020 using Tax1099. Don’t wait for the deadline eFile Now.!