Get the free Premiere Select® IRA Recharacterization Request Form

Use this form to request a recharacterization of all or any portion of your contributions to your Premiere Select Traditional, SEP, SIMPLE or Roth IRA or qualified rollover contributions. The recharacterization

How to fill out premiere select ira recharacterization

How to fill out Premiere Select® IRA Recharacterization Request Form

1. Download the Premiere Select® IRA Recharacterization Request Form from the official website.
2. Fill in your personal information including your name, address, and account number at the top of the form.
3. Indicate the type of IRA account you wish to recharacterize (e.g., Traditional IRA, Roth IRA).
4. Specify the amount you wish to recharacterize from one account to another.
5. Provide information on the original contribution, including the tax year.
6. Sign and date the form at the bottom.
7. Submit the completed form according to the provided instructions, either by mail or electronically.

Who needs Premiere Select® IRA Recharacterization Request Form?

1. Individuals who have made contributions to a Roth IRA and wish to recharacterize them to a Traditional IRA.
2. Taxpayers looking to correct contributions due to changing financial situations or tax strategies.
3. Clients aiming to take advantage of different tax implications associated with IRAs.

People Also Ask about

Do I need to amend my tax return for recharacterization?

Note: If you recharacterize a contribution made in the previous calendar year, it impacts your tax return even though the recharacterization activity will be reported on the next year's Form 1099-R. You may need to file an amended return if you have already filed your tax return for that year.

What is the tax form for IRA recharacterization?

Recharacterizations from a Roth IRA to a traditional IRA—and vice versa—are reported on 2 different tax forms: Form 1099-R reports the distribution. Form 5498 reports the contribution.

Do I need to amend my tax return for recharacterization?

Note: If you recharacterize a contribution made in the previous calendar year, it impacts your tax return even though the recharacterization activity will be reported on the next year's Form 1099-R. You may need to file an amended return if you have already filed your tax return for that year.

What is the deadline to recharacterize a traditional IRA contribution?

When to complete your IRA contribution recharacterization. Your contribution must be recharacterized on or before your tax-filing deadline for the year for which it was made. The IRS generally provides an extended time frame—until October 15—to complete your recharacterization.

What is the deadline to recharacterize contributions made to an IRA?

A Roth IRA contribution can be partially or wholly recharacterized as a traditional IRA contribution, as long as you recharacterize the contribution by October 15 of the year following the year in which you need to make the adjustment.

How do I Recharacterize my IRA contributions?

To recharacterize a regular IRA contribution, you tell the trustee of the financial institution holding your IRA to transfer the amount of the contribution plus earnings to a different type of IRA (either a Roth or traditional) in a trustee-to-trustee transfer or to a different type of IRA with the same trustee.

How do I revert my IRA contributions?

The deadline for a timely correction of an excess contribution is the tax-filing deadline (plus extensions) in the year you made the excess contribution. To be eligible to remove your excess contribution after the tax-filing deadline, you must file your taxes on time or file for an extension to file your return.

For pdfFiller’s FAQs

What is Premiere Select® IRA Recharacterization Request Form?

The Premiere Select® IRA Recharacterization Request Form is a document used by individuals to request the recharacterization of contributions made to their IRA accounts, allowing them to change the character of these contributions from one type of account to another.

Who is required to file Premiere Select® IRA Recharacterization Request Form?

Individuals who have made contributions to their Traditional IRA or Roth IRA and wish to recharacterize those contributions to another type of IRA must file the Premiere Select® IRA Recharacterization Request Form.

How to fill out Premiere Select® IRA Recharacterization Request Form?

To fill out the Premiere Select® IRA Recharacterization Request Form, individuals should provide their personal information, specify the type of IRA account involved, indicate the amount to be recharacterized, and sign the form to authorize the request.

What is the purpose of Premiere Select® IRA Recharacterization Request Form?

The purpose of the Premiere Select® IRA Recharacterization Request Form is to formally document a request to change the classification of IRA contributions, thereby allowing account holders to potentially benefit from more favorable tax treatment.

What information must be reported on Premiere Select® IRA Recharacterization Request Form?

The information that must be reported includes the account holder's name, Social Security number, the amount of contribution to be recharacterized, the type of IRA from which the funds are being moved, and the type of IRA to which the funds are being recharacterized.