Frequently Asked Questions
- Home
- FAQs
- What are the tax consequences of a rollover?
Personal Online Banking
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
Personal Mobile Banking
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
Card Control
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
Zelle
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
Personal Finance Manager
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
Business Online Banking
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
Business Mobile Banking
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
Business Leasing
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
Business Online Bill Pay
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
Account Alerts
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
eDocuments
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).
uChoose Rewards
A direct rollover is reportable to the IRS, but not taxable. Your former employer’s retirement provider will issue a 1099-R tax form and send it to you (and the IRS). The distribution code in box 7 of the form will be “G” (direct rollover).