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Understanding Your Fidelity 2014 1099-R Distribution Information

If you made withdrawals in 2014 from your retirement plan, IRA, annuity, pension, or insurance contract, Fidelity will send you Form 1099-R detailing these distributions.

Illustrated explanation of Form 1099-R distribution information

You may receive more than one Form 1099-R, because distribution information on each form is limited to one account and one distribution code.

Click on the number for a detailed explanation of that section.

Note: Boxes 3, 5, 6, 8, 9a, 9b, 10, and 11 do not apply to Fidelity retirement accounts. In addition, Fidelity does not currently complete boxes 15−17.

For additional information on our Annuity 1099-R form, please see our guide to Form 1099-R for annuities (PDF).

If you are interested in investing your distributions, Fidelity offers a wide range of solutions that can help meet your needs.

Consider a certificate of deposit (CD) from Fidelity.

You know Fidelity as an expert in mutual funds and IRAs, but we also offer a wide range of CDs and money market funds that may be appropriate if you are looking for more conservative investing options. When it comes to ways to put your cash to use, Fidelity offers many important advantages over banks.

If your goal is to lock in a guaranteed rate, consider a CD1 from Fidelity. You get:

  • FDIC insurance.
  • A wide, online selection of inventory from 500 banks nationwide.2
  • Competitive interest rates on CDs that you can browse and buy online, all in one place.
  • A variety of choices to suit your investing time frame (3 months to 20 years).
  • The flexibility to cash out before maturity with no penalty.3
  • Locked-in rates.

Consider a money market fund from Fidelity

If your goal is a competitive yield plus liquidity, consider a Fidelity money market fund. As the largest money market fund manager in the country, we offer:

  • Competitive yields.
  • Liquidity—you can withdraw funds any time with no penalties.
  • The convenience of checkwriting.
  • A wide selection of funds to help meet different goals—taxable fund choices include Treasury, government, and general purpose.

An investment in a money market fund is not insured or guaranteed by the FDIC or any other government agency. Although the fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the fund. Unlike most FDIC-insured CDs or bank products, a money market fund's yield and return will vary.

Get an estimate of your minimum required distributions (MRD)

Fidelity's Retirement Distribution Center helps you estimate the amount of your minimum required distribution. It also makes it easier for you to keep track of whether you've withdrawn the required amount for the current year from your Fidelity IRA and Fidelity retirement plan account(s).

To view your information, log in, (login required) go to Accounts & Trade, and select Retirement Distributions from the dropdown menu. Or, from a retirement account, select the Action dropdown box and choose Retirement Distributions. Once you do that, the Retirement Distribution Center will appear. Note: The Retirement Distribution Center is visible only to customers who are age 59½ or older or to those who have inherited a retirement account.

Contact a Fidelity retirement representative at 800-544-4774 to develop a strategy for your distributions, and let us help you do more with your cash. As the #1 retirement provider,4 we can offer the guidance and investment choice you need today.

1. Fidelity offers a type of certificate of deposit (CD) called a brokerage CD. Brokerage CDs are issued by banks for brokerage firms' customers, with the deposits received being obligations of the issuing bank. The CDs are usually issued in large denominations and the brokerage firm divides them into smaller denominations for resale to its customers. If your CD has a step rate, the interest rate of your CD may be higher or lower than prevailing market rates. Step rate CDs are also subject to secondary market risk and often will include a call provision by the issuer that would subject you to reinvestment risk. The initial rate is not the yield to maturity. If your CD has a call provision, please be aware that the decision to call the CD is at the issuer's sole discretion. Also, if the issuer calls the CD, you may be confronted with a less favorable interest rate at which to reinvest your funds. Fidelity makes no judgment as to the creditworthiness of the issuing institution and does not endorse or recommend the CDs in any way. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.
2. Fidelity makes no judgment as to the creditworthiness of the issuing institution and does not endorse or recommend the CDs in any way.
3. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss. Your ability to sell a CD on the secondary market is subject to market conditions. If your CD has a step rate, the interest rate of your CD may be higher or lower than prevailing market rates. The initial rate on a step rate CD is not the yield to maturity. If your CD has a call provision, which many step rate CDs do, please be aware the decision to call the CD is at the issuer's sole discretion. Also, if the issuer calls the CD, you may be confronted with a less favorable interest rate at which to reinvest your funds. Fidelity makes no judgment as to the credit worthiness of the issuing institution.
4. Based on two surveys: The PLANSPONSOR magazine 2014 Recordkeeping Survey (© Asset International, Inc.), based on defined-contribution plan assets administered and number of participants of recordkeepers, as of 12/31/2013; and Cerulli Associates' The Cerulli Edge®—Retirement Edition, third quarter 2014, based on an industry survey of firms reporting total IRA assets administered for Q2 2014.

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Box 1

Reports the total amount of the distribution(s) for each distribution code, including income taxes that Fidelity withheld, if any. Box 1 does not include fees that we may have charged.

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Box 2a

Generally reports the part of the distribution that is taxable. In cases in which we know that the distribution is not taxable (such as recharacterizations and direct rollovers into a qualified retirement plan), the amount reported will be zero. For certain types of distributions, including distributions from Roth IRAs, the box is left blank. The IRS does instruct custodians to populate box 2a with the same amount as box 1 for distributions from IRAs.

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Box 2b

Generally, Fidelity checks the Taxable amount not determined box for all cases, unless we can identify the taxable amount of a distribution as zero. In cases where either this box is checked or Box 2a is left blank, with the exception of IRA distributions, you will need to check your own records to determine the taxable amount. Fidelity checks the Total distribution box if all of the assets have been distributed from the account.

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Box 4

Reports any federal income tax withheld from your distribution. Include this on your income tax return as tax withheld, and if Box 4 shows an amount (other than zero), attach Copy B of your 1099-R to your federal income tax return.

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Box 7

Please see the reverse side of your Form 1099-R for official IRS distribution code definitions. In addition to normal and early distributions, distribution types include direct rollovers from employer-sponsored retirement plans, conversions to a Roth IRA, and recharacterized contributions (plus earnings). The IRA/SEP/SIMPLE box is checked if the distribution is from a Traditional IRA, SEP IRA, SIMPLE IRA, or an IRA that was converted to a Roth IRA.

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Boxes 12-17

Report state income tax withholding information.

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Boxes 3, 5, 6, 8, 9a, 9b, 10 and 11

These do not apply to Fidelity retirement accounts. Fidelity does not currently complete boxes 15−17.

Before investing, consider the fund's investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
The tax information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice. Fidelity does not provide legal or tax advice. Fidelity cannot guarantee that such information is accurate, complete, or timely. Laws of a particular state or laws which may be applicable to a particular situation may have an impact on the applicability, accuracy, or completeness of such information. Federal and state laws and regulations are complex and are subject to change. Changes in such laws and regulations may have a material impact on pre- and/or after-tax investment results. Fidelity makes no warranties with regard to such information or results obtained by its use. Fidelity disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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