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S4407.2 ___SUBSTITUTE SENATE BILL 5955 ___State of Washington68th Legislature 2024 Regular Session Senate Local Government, Land Use & Tribal Affairs (originally sponsored by Senators Laser, Hasegawa,
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Form 5955-SD (Savings Distribution) is a form used by financial institutions to report distributions from conventional or Roth IRAs and other retirement plans.
Financial institutions and custodians that process distributions from IRAs or other retirement plans must file Form 5955-SD.
To fill out Form 5955-SD, gather the required information about the account holder, including identification details and details of the distribution, and follow the instructions provided with the form.
The purpose of Form 5955-SD is to report distributions from retirement accounts to the IRS and provide a summary of the transactions for tax reporting purposes.
The form requires information such as the recipient's name, address, taxpayer identification number, amount distributed, distribution code, and the type of retirement account.
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