Resources
The amounts shown on Forms 1099 and 5498 will be reported to the Internal Revenue Service (IRS). In general, these forms contain dividend, distribution, sale/exchange, account value information, and cost basis information, if available, related to your mutual funds account. Below, you will find general information about these forms.
In addition, Pacific Funds has enhanced our online Tax Information Center, including a section for frequently asked questions. This is a great resource to help answer your questions related to IRS Forms 1099 and 5498.
Pacific Funds is not engaged in the practice of law, nor is it licensed to do so. This communication is not intended as legal or tax advice, nor may it be relied upon by any taxpayer for the purpose of avoiding any tax penalties. This communication may not be used to promote, market, or recommend to another party any transaction or matter addressed herein. Any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
IRS Form 1099 - Reports earnings, distributions, and transactions
General Information - Types of 1099 forms and general distribution information.
Frequently Asked Questions - Answers to frequently asked questions.
Additional Information - Transfer types and distribution codes.
IRS Form 5498 - IRA Contribution Information
General Information - 5498 general distribution and form information.
Frequently Asked Questions - Answers to frequently asked questions.
Additional Information - Contribution amounts, transfer types, and IRA types.
Mutual Funds Forms - Tax Mailing
| Type of Communication/ Title of Form | Purpose | Mailed |
|---|---|---|
| IRS Form 1099-R/Distribution from Pensions, Annuities, Retirement or Profit Sharing Plan, IRAs, Education Savings Accounts, Insurance Contracts, etc. | Reports distributions (including conversions and recharacterizations) from retirement or pension plans, Annuities, Retirement or Profit Sharing Plan, IRAs, Education Savings Accounts, Insurance Contracts, etc. | Late January |
| IRS Form 1099-DIV/Dividends and Capital Gain distributions, federal tax withholding (backup withholding), and foreign tax paid on a retail account | Reports total ordinary dividends and total capital gain distributions a fund paid on a retail account. 1099-DIV also reports federal income tax withheld (backup withholding), foreign tax paid and foreign source income, if applicable to your account. | Late January |
| IRS Form 1099-B/Distributions from retail mutual fund accounts | Reports the gross proceeds, less any contingent deferred sales charge (CDSC), and cost basis information, if available, received from sales of fund shares in retail accounts during the year. | Mid February |
| IRS Form 5498-ESA/Coverdell Education Savings Account (ESA) contribution information | Reports contributions and rollovers into a Coverdell Education Savings Account. | Late April |
| IRS Form 5498/IRA Contribution Information | Reports contributions (including rollovers) to any individual retirement arrangements (IRA) including a SEP, SIMPLE, and Roth IRA, Roth conversions, IRA recharacterizations, and the fair market value (FMV) of the account. | Late May |
