What Happens if I Transfer or Rollover an IRA From Another Firm to STRATA?

If you did a Direct Transfer between trustees (the formal name for financial providers), as STRATA recommends, you shouldn’t receive IRS Form 1099-R from the previous trustee. To put it simply, if you didn’t get a check, then you won’t get a tax form.

If you did a rollover, in which you received a check from the previous trustee and sent the money to STRATA within 60 days, you should receive IRS Form 1099-R from the previous trustee, and you should receive IRS Form 5498 from STRATA. If you waited longer than 60 days, you will need to contact your tax advisor to determine if you qualify for the 60-day waiver or to discuss other options.