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patatdac  
#1 Posted : Sunday, December 9, 2018 5:55:35 AM(UTC)

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I retired this year and transferred Voluntary Contributions to a Roth account.
Will OPM send 2 separate 1099R's or one combined 1099?
Thanks
ChrisC  
#2 Posted : Tuesday, December 11, 2018 8:11:31 AM(UTC)

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As I recall, they will send you 2; one for the rollover/transfer to the Roth and the other one for the interest on your VCP contributions that you either rolled over to another tIRA or took as a direct distribution. It's been 5 years since this occurred for me, so I could be out-dated.
patatdac  
#3 Posted : Friday, March 1, 2019 3:27:09 PM(UTC)

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Update on 1099-R status for voluntary contributions:
I have not received a 1099-R for the disbursement of voluntary contributions. OPM representative noted during a phone call today that no taxes were paid or due since the rollover is a direct trustee to trustee transfer from OPM to my financial institution.
Can anyone confirm this?
Thanks,
Pat
I'm done!  
#4 Posted : Sunday, March 10, 2019 7:17:47 PM(UTC)
I'm done!

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I retired Sept 30, 2017 and transferred my VCP money to my Roth IRA. As long as it was transferred directly from the VCP to the Roth there is no tax impact and so no 1099.
Retired September 30, 2017!
The HalfBreed  
#5 Posted : Saturday, March 16, 2019 5:30:43 PM(UTC)

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They are ALL basically correct above. I did this whole VCP to ROTH IRA back in 2011/2012, and St Louis sent my funds to Vanguard, however, Vanguard put it into a regular IRA in March of 2011. I called them, and they changed it to a ROTH with no issues whatsoever. Neither I, nor Vanguard received ANY paperwork, so I filed an Amended Tax Return in July 2011 indicating the transfer and no tax due, and things have been great ever since.
I believe I called the PA office (can't remember where, but certainly in PA) and they sent me the paperwork that aug or sept which I promptly filed for myself here at home.

Here it is, 2019 and I've never had an issue ever since 2011.

Edited by user Saturday, March 16, 2019 5:31:56 PM(UTC)  | Reason: Not specified

RETIRED 12/19/2012 @ age 57
Good Bye Tension...Hello Pension !
ChrisC  
#6 Posted : Saturday, March 16, 2019 8:08:21 PM(UTC)

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I checked my tax records for 2013 when I did a rollover of my VCP contributions and VCP interest to a Wells Fargo Roth IRA (for the contributions) and Wells Fargo tIRA (for the interest on the contributions). And this was specifically delineated on OPM Form RI-38-124, page 3, where the form asks how to distribute your "Lump Sum Refund of Voluntary Contributions." I asked that the VCP refund checks be sent to me. I retired on 6-29-2013; and in September 2013, I received two U.S. Treasury Checks dated 9-24-2013 made out to Wells Fargo Plan Trustee for XXXXX, XXXXX (Me).

Later, I received in January 2014 two 1099-Rs from OPM-Boyers, each for the contributions and interest thereon for my VCs. Each of the 1099-Rs I received had in box 7 a Distribution Code of "G-DIRECTROLLOVER". I filed my 2013 tax returns noting the distribution and rollover (with no tax consequence).

I don't know what happened to others, but OPM did send me 1099-Rs.

Edited by user Saturday, March 16, 2019 8:13:08 PM(UTC)  | Reason: Not specified

patatdac  
#7 Posted : Sunday, March 17, 2019 6:12:10 AM(UTC)

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Thank you for the responses. I finally called the IRS and they sent a letter to OPM. OPM did respond by sending a 1099-R only noting the interest portion and no taxes due on line 2. They also sent an email stating that no 1099-R would be issued for contributions since there are no taxes due....
IRS also followed up with a letter saying to file the 1099 if the employer responded to their letter or I could file a form 4852 if OPM did not provide a 1099-R.

Was kind of disappointed that the contributions were not documented in the 1099-R (Roth portion), but just filed my tax return with the 1099-R OPM provided. It seems like OPM is all over the place reguading 1099-R forms for the VCP program and not likely to change since the number of participants are quickly declining. Anyhow, I have documentation from the IRS and receipts from VCP for the contributions.
Thanks for your input.
Pat
wyre  
#8 Posted : Friday, August 9, 2019 2:46:35 PM(UTC)
wyre

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For anyone rolling over a VCA account to Roth and TSP, I just received a letter from OPM regarding my VCA rollover which stated they would not be issuing a 1099R Statement of Annuity Paid. “ Instead you will be receiving a tax document from the financial institution that you rolled the money into, once the money is withdrawn. Please keep this letter in a safe place with your other important records. You will need this information later when you withdraw the funds you are rolling over now.” That’s a bit worrying, but I’m glad (after nearly 4 months since I sent in the initial request) the funds are finally being moved. Got confirmation the contributions portion had been received — still waiting to hear from TSP (interest)
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