Tax Documents
Edited

Required tax documents and filings vary by plan type. If you do not see a tax document in the tax documents section of the Carry website, and you have not self-prepared the form, it is likely it is either not required or is not yet due.

Solo 401k

Tax documents for a Solo 401k are typically only required for withdrawals and conversions, not for contributions. Contribution data is available on the Solo 401k Contributions tab on the Carry website, and on brokerage statements.

5500-EZ

Required for plans with $250,000 or more in assets, or when the plan is being terminated.

Due by the end of July, for the previous plan year (or 7 months after the end of the plan year, for a non-calendar plan).

You are responsible for filing 5500-EZ if required. Carry will reach out with annual reminders, and can provide assistance in filling out the form.

1099-R

Required for withdrawals, in-plan conversions, and other tax-reportable events.

Due January 31st for your taxes; electronic filing due date is March 31.

You are responsible for filing 1099-R if required. Carry will reach out with annual reminders, and can e-file the form on your behalf if requested.

945

Required for years in which you have a tax liability from the plan, such as due to a taxable conversion or withdrawal.

Not required for any year in which you do not have such liability.

You are responsible for filing 945 if required.

5330

Required for reporting excess plan contributions and other plan failures.

Due by the end of July, for the previous plan year (or 7 months after the end of the plan year, for a non-calendar plan).

You are responsible for filing 5330 if required. You should work with an accountant or attorney who is familiar with the over-contribution correction process, as there may be additional steps and reports required (for example, a corrected W-2).

8881

Optional, Form 8881 Part II is used to claim the EACA auto-enrollment credit.

Due with your business tax return.

You should work with your business's accountant to file Form 8881 if you are claiming the EACA auto-enrollment credit.

Traditional or Roth IRA

FMV

Generated to show the FMV of an IRA.

Due January 31st for your taxes.

For IRAs where DriveWealth is the custodian, DriveWealth will generate the FMV statement.

1099-R

Required for withdrawals, conversions, and other tax-reportable events.

Due January 31st for your taxes; electronic filing due date is March 31.

For IRAs where DriveWealth is the custodian, DriveWealth will generate and e-file the 1099-R.

5498

Required for IRA contributions.

Due to the IRS by May 31.

For IRAs where DriveWealth is the custodian, DriveWealth will generate and e-file the 5498.

Taxable Brokerage Account

Consolidated 1099s

Required for taxable accounts.

For taxable brokerage accounts with Carry, DriveWealth will generate a consolidated 1099s in mid-February for the preceding year.