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1099R form - disability and 403b withdrawal?
My mom was officially declared disabled in oct, and they backdated her pay about 2 years. However, she had to withdraw from her 403b in the middle of the year and the 1099R form is showing distribution code 1 instead of 3 for disability, which still penalizes her 10%. Will her 403b company metlife be able to send another form shwoing code 3 or how can she keep from being penalized?
2 Answers
- StephenWeinsteinLv 71 decade ago
The distribution code indicates whether the company knows of an exception, not whether there is one. If she qualifies for an exception that was not known to the company, she can claim it when she files. She does not need a new Form 1099-R.
- troLv 71 decade ago
at the date she withdrew it there was no determination for the distribution therefor Code # 1 was entered at the time of the distribution
when she was declared disabled was after the distribution was effected, they can't go back on the date
