401(k) tax documents: which forms show contributions and withdrawals
By Arthur Teboul, DokuTrak · Published
In brief
The tax documents for a 401k are your Form W-2, where Box 12 shows what you put in, and Form 1099-R for any money that came out, including rollovers and defaulted loans (Form W-2 instructions) (Form 1099-R instructions). Add the year-end plan statement, since your employer match does not appear on the W-2.
The checklist: Workplace plan paper trail: 401(k), 403(b) and 457(b)
One copy per plan participant. The first group is the same every year; then fill only the groups for what the money did this year: paid out, rolled, borrowed.
- PDFPrint it or tick it off on screen.Free, no email
- WordEdit it and send it under your name.Free, with your email
- Excel trackerOne row per item, with a status column.Free, with your email
Build your own list: Answer 10 yes-or-no questions and the tax document checklist generator combines the lists that apply into one checklist.
Contributions (every year)
- Form W-2 from each employerBox 12 codes D, AA, E or G, and the Box 13 retirement plan check
- Year-end 401(k) plan statementYour deferrals, the employer match and the vested balance
- Last pay stub of the year from each jobBacks up year-to-date deferrals if a W-2 is late
- Total deferrals across all plans this yearYour own sum, to compare with the yearly limit
- Split of catch-up deferrals between pre-tax and RothFrom the plan statement; higher-paid workers may see Roth catch-up from 2026
- Corrective distribution letter for an excess deferralOnly if a plan returned money over the limit
Withdrawals and retirement payouts
- Form 1099-R for each payout from the planCheck Box 1, Box 2a, Box 4 withholding and the code in box 7 (7a on 2026 forms)
- Hardship withdrawal approval from the planShows the reason and the date paid
- Required minimum distribution noticeFrom the plan, for the year you reach RMD age or retire
- Records of after-tax (non-Roth) contributionsBasis that comes back tax-free; see Box 5 of the 1099-R
- Year of your first Roth 401(k) deferralNeeded when Box 7 shows code B
Rollovers
- Form 1099-R from the old planCode G for a direct rollover
- Deposit confirmation from the receiving IRA or planDate and amount, to prove the deposit was on time
- Form 5498 from the receiving IRAArrives in late spring; keep it with the return
- Check stub or bank record for an indirect rolloverDate received and the tax withheld by the plan
Plan loans
- Loan statement for the yearBalance, payments and payment schedule
- Default or loan offset noticeExplains a 1099-R with code L or a loan offset
- Separation date from the employerA loan often comes due after you leave the job
Early withdrawal exceptions and prior years
- Proof of the exception to the 10% additional taxFor example a separation letter, a disability finding or a court order
- Last year’s return, with any Form 5329Shows rollovers or excess deferrals that crossed tax years
- Beneficiary papers for an inherited 401(k)Plan’s beneficiary form and death certificate, with code 4 on the 1099-R
Two kinds of 401(k) years: money in, money out
Start with one question: did any money leave the plan this year? If not, the return only needs your W-2. If yes, you also need a Form 1099-R for each payout, and maybe more papers behind it.
Pre-tax deferrals to a 401(k) show in Box 12 of the W-2 with code D (Form W-2 instructions). Roth deferrals to the same plan use code AA (Form W-2 instructions). Pre-tax money is already left out of Box 1 wages, so you do not deduct it again on the return.
A Form 1099-R is the statement a plan sends for each distribution of $10 or more, and it also covers rollovers and loans treated as distributions (Form 1099-R instructions). Its Box 7 code tells the preparer how to treat the money, as the Form 1099-R guide explains. A missing 1099-R in a year with a payout is the gap to close first.
| What happened this year | Form you get | Who sends it |
|---|---|---|
| You contributed through payroll | Form W-2, Box 12 code D or AA (Form W-2 instructions) | Your employer |
| You took cash out or retired | Form 1099-R, Box 7 code 1, 2 or 7 (Form 1099-R instructions) | The plan or its record keeper |
| You moved the money to an IRA or new plan | Form 1099-R with code G for a direct rollover (Form 1099-R instructions) | The old plan |
| A plan loan went into default | Form 1099-R with code L (Form 1099-R instructions) | The plan |
| Too much was deferred and paid back | Form 1099-R with code P or 8 (IRS Publication 525) | The plan that returned it |
Contributions: the W-2 codes and the yearly limit
Box 12 also uses code E for a 403(b) and code G for a 457(b) plan, so a client with two jobs may hold two codes (Form W-2 instructions). The Retirement plan box in Box 13 is the check mark that says you were an active participant for any part of the year (Form W-2 instructions). It matters if you also want to deduct an IRA contribution.
Your employer match does not show in Box 12. The year-end plan statement is the only paper that lists it, along with your vesting. Ask for that statement even in a quiet year.
For 2026, the deferral limit is $24,500, up from $23,500 for 2025 (IRS, 2026 401(k) limits). Workers aged 50 or older can add a catch-up of $8,000 in 2026, up from $7,500, and those aged 60 to 63 can add $11,250 instead (IRS, 2026 401(k) limits). The limit applies to you, not to each plan, so add the Box 12 amounts from every W-2.
Catch-up money may also change code. A SECURE 2.0 rule makes higher-paid workers put catch-up contributions in as Roth, and its transition period ended on December 31, 2025 (IRS, Final regulations on the Roth catch-up rule). So on a 2026 W-2, part of an older manager’s deferrals may sit under code AA instead of code D.
An excess deferral is the amount over that personal limit, often from two jobs in one year. The plan must pay it back with its earnings by April 15 of the next year (IRS Publication 525). If it stays in the plan, you are taxed twice on it: once now and again when it comes out (IRS Publication 525).
Withdrawals: reading Box 7 of Form 1099-R
The code in Box 7 is short, but it drives the tax. Check it against what really happened before anyone files. On the 2026 form, sent in early 2027, the same code sits in box 7a (Form 1099-R instructions). The table lists the codes a plan payout tends to carry.
You report a plan payout on lines 5a and 5b of Form 1040, the lines for pensions and annuities (Form 1040 instructions). Box 1 shows the gross payout and Box 2a the taxable part. If you made after-tax contributions, part of the payout may come back tax-free.
| Box 7 code and what it means | What to gather |
|---|---|
| Code 1: paid before age 59½, no known exception (Form 1099-R instructions) | Proof of any exception the plan did not know about |
| Code 2: paid before age 59½, and the plan knows an exception applies (Form 1099-R instructions) | The plan’s letter or the event behind it |
| Code 7: normal payout at age 59½ or older (Form 1099-R instructions) | Nothing more in most cases |
| Code G: direct rollover to another plan or an IRA (Form 1099-R instructions) | The receiving account’s statement |
| Code L: loan treated as a deemed distribution (Form 1099-R instructions) | Loan statement and default notice |
| Code B: payout from a designated Roth account (Form 1099-R instructions) | Year of your first Roth deferral |
| Code 4: payment to a beneficiary after a death (Form 1099-R instructions) | Death certificate and beneficiary papers |
Rollovers and plan loans
A direct rollover is a payout the plan sends straight to another plan or IRA. No tax is withheld on it (IRS, Rollovers of retirement plan distributions). The 1099-R still arrives, with code G, and the return shows the amount as not taxed. From there the money follows the IRA paperwork, starting with Form 5498.
An indirect rollover leaves more of a trail. A plan must withhold 20% of a payout made to you, even if you plan to roll it over (IRS, Rollovers of retirement plan distributions). You then have 60 days to deposit it in another plan or IRA (IRS, Rollovers of retirement plan distributions). Keep the check stub, the deposit receipt and both dates.
The receiving IRA reports the deposit on Form 5498, a form that arrives at the end of May (Form 1099-R instructions). The rollover line on the return is prepared from the deposit confirmation, and the Form 5498 joins the folder when it lands.
Plan loans are quiet until they go wrong. A loan that breaks the plan rules or the payment schedule becomes a deemed distribution, taxed like a payout and open to the 10% additional tax (Form 1099-R instructions). If you left the job and the plan used your balance to repay the loan, that loan offset is an actual distribution (Form 1099-R instructions).
The early withdrawal tax and required payouts
Money taken before age 59½ usually adds a 10% tax on the taxable part (IRS Topic no. 558). There are exceptions. For example, the tax does not apply to a payout after you separate from your employer at age 55 or later (IRS Topic no. 558). Nor does it apply to money rolled over, or to a payout after total and permanent disability (IRS Topic no. 558).
Form 5329 is where you claim an exception the plan did not code. You do not need it when the 1099-R shows code 1 and you owe the tax (IRS Topic no. 558). You do need it when an exception applies but Box 7 does not say so (IRS Topic no. 558). Gather the paper behind the exception, such as a separation letter or medical bills.
Later in life, the rule flips. You generally must start required minimum distributions at age 73, though a workplace plan can let you wait until you retire, unless you own 5% of the business (IRS RMD FAQs). Keep the plan’s RMD notice with the 1099-R, so the preparer can see the full amount came out.
Sending your 401(k) papers to the preparer
Most of these papers sit in the plan’s online account under a tax forms tab. Download the PDF rather than a screenshot, so every box and code is readable.
- Pull every W-2 for the year and note the Box 12 codes and amounts.
- Download each Form 1099-R, plus the year-end plan statement.
- Add rollover deposit records, loan notices and any corrective payout letter.
- Write one line on what happened: retired, changed jobs, rolled over, borrowed.
- Flag any Form 5498 still to come from the receiving IRA.
Questions people ask
Does a 401(k) have a tax document?
Yes, but which one depends on the year. Contributions show on your W-2 in Box 12, with code D for pre-tax and code AA for Roth (Form W-2 instructions). You get a Form 1099-R only when money leaves the plan.
I didn’t get a Form 1099-R from my 401(k). Is that a problem?
Not if nothing came out. A plan files a 1099-R for each payout of $10 or more, so a year with only contributions has none (Form 1099-R instructions). If you did take money out or roll it over, ask the plan for the form.
Is a direct rollover from a 401(k) to an IRA taxable?
No. The plan still sends a Form 1099-R, with code G in Box 7, and you report the amount as a rollover (Form 1099-R instructions). No tax is withheld on a direct rollover (IRS, Rollovers of retirement plan distributions).
What if I contributed to two 401(k) plans and went over the limit?
Ask one plan to return the excess and its earnings by April 15 of the next year (IRS Publication 525). If the excess stays in the plan, it is taxed in the year you put it in and again when it comes out (IRS Publication 525).
Where does a 401(k) distribution go on Form 1040?
On lines 5a and 5b, the lines for pensions and annuities (Form 1040 instructions). The gross amount comes from Box 1 of Form 1099-R and the taxable amount from Box 2a.
Sources
- Form W-2 instructions: Box 12 codes D (401(k) deferrals), AA (Roth 401(k)), E (403(b)) and G (457(b)), and the Box 13 retirement plan checkbox for active participants.
- Form 1099-R instructions: Form 1099-R for distributions of $10 or more; Box 7 codes 1, 2, 4, 7, B, G, L and P, moved to box 7a on the 2026 form; deemed distributions and loan offsets; Form 5498 due by May 31.
- IRS, 2026 401(k) limits: The 2026 deferral limit is $24,500 ($23,500 for 2025), the catch-up is $8,000 (up from $7,500 for 2025), and $11,250 for ages 60 to 63.
- IRS Publication 525: Excess deferrals must be paid back by April 15 of the next year, or they are taxed twice; codes P and 8 on Form 1099-R.
- IRS, Rollovers of retirement plan distributions: A distribution can be rolled over within 60 days; a plan payout made to you has 20% withheld; a direct rollover has no withholding.
- IRS Topic no. 558: The 10% additional tax before age 59½, its exceptions including separation from service after attainment of age 55, and when Form 5329 is needed.
- IRS RMD FAQs: RMDs generally start at age 73; workplace plan participants can delay until they retire unless they are 5% owners.
- IRS, Final regulations on the Roth catch-up rule: SECURE 2.0 requires catch-up contributions by certain higher-income participants to be Roth; the administrative transition under Notice 2023-62 generally ends on Dec. 31, 2025; final regulations generally apply from 2027, with good-faith compliance before then.
- Form 1040 instructions: Pension and annuity payouts are reported on lines 5a and 5b.
About the author
Arthur Teboul (Founder, DokuTrak) is building DokuTrak after watching professionals lose hours chasing clients for documents over email. Arthur Teboul.
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