Form 1099-R

Form 1099-R is a form that your bank or other financial institution sends to the Internal Revenue Service (IRS) to report money you received from them in the past year. It's usually associated with retirement accounts such as a 401(k) or IRA. When you get money from these sources, your bank will fill out a 1099-R form and send it to the IRS. The IRS uses this form to make sure you pay taxes on the income you received.