Frequently asked questions and answers about 1099 tax forms

The 1099 is a tax form used to report non-salary income such as distributions from a retirement account. The Internal Revenue Service (IRS) requires that a business generate a 1099 for individuals, which is then used to report any income not listed on a W2.

Yes; here are some of the most common types of 1099s.

• 1099R: Reports taxable withdrawals greater than $10 from a retirement plan, IRA, profit sharing, insurance contract, annuity, or pension, or account rollover.
• 1099INT: Reports interest you received from something like a bank or brokerage firm.
• 1099MISC: Received if you’re an independent contractor or self-employed and got $600 or more this year from a business.

1099Rs are generated for two reasons:

• You received a distribution of more than $10—cash, direct rollover, or unpaid loan balance or stock certificate from a benefit event like changing jobs—from a retirement plan, IRA, profit sharing, insurance contract, annuity, or pension, or account rollover.
• You received a distribution (cash or unpaid loan balance or loan interest) from a life insurance policy or annuity in the last tax year.

Form 5498 is sent to anyone who makes a contribution to an IRA.

No; you’ll only receive one if you got more than $10 from one of the accounts listed above.

If you’ve signed up for paper delivery, Principal mails all 1099s by January 31 of the year following your distribution. For example, if you received a distribution in August 2025, you’ll receive a 1099 in January 2026. If you’ve signed up for e-delivery of your tax forms, you can download your 1099 (if you receive one) at any time after it is generated on January 31. (See below for more information on e-delivery.)

Yes. Here’s how you adjust your delivery preferences:

• If you have a Principal.com account, log in. Click on “My profile” on the top right. Select “Manage delivery preferences,” and check the box for “Tax documents.” Click the “View terms (PDF)” button, select email notification, and select the email to send notifications. Your e-documents should be available the next day. Don’t have a Principal.com account yet? No problem. To get started, view accounts.principal.com and follow the on-screen instructions.
• If you are Principal Funds account holder, log in. Select your Principal Funds account. Under "Statements & History," select "Statements & Tax Forms." Click the "Tax Forms" tab.
• If you are a Principal Securities account holder, log in. Select your Principal Securities account. On the top rail, click on “Menu,” then “Forms & instructions.” Scroll to “Document delivery instructions” to change your delivery preferences.

As you set up or update your account, we recommend using an email that you’ll have forever—not one associated with a work account.

If you have signed up for e-delivery, start by logging into principal.com; select “My profile.” Under “My documents” you will see a section called “Tax documents.” That’s where you’ll find documents like your 1099R.

If you are a Principal Funds account holder, log into principal.com and select your Principal Funds account. From “Statements & History,” select “Statements & Tax Forms.” Click the “Tax Forms” tab.

If you are a Principal Securities account holder, log in. Select your Principal Securities account. On the top rail, click on “Menu,” then “Forms & instructions.” Scroll to “Forms library” to access tax documents.

If you’ve signed up for e-delivery, you can download a copy of your 1099R at any time.

If your delivery preferences are by mail and you haven’t received your 1099 by mid-February, Principal can help. Call us at +800-986-3343, Monday-Friday, 7 a.m.-7 p.m. CT. We’ll make sure your address is correct, and can send you another copy. (We are unable to fax a copy.)

If you have no downloads available, you do not have a 1099 for the year.

Yes. Look for box 7 on the front of your 1099R and check the code. Then, look on the back of the form. Here are some of the common distribution codes:

• G: A direct rollover from one retirement plan to another, which isn’t taxable.
• 1: An early distribution penalty tax if you took a distribution from your retirement account, insurance policy, or annuity.
• 7: A distribution from your retirement plan, life insurance policy, or annuity.

The IRS has more information at IRS.gov.

If you file taxes, you may need to report the information on your 1099R on your tax return. If you have a tax advisor, you can share the form with them. If you do your tax return yourself, you’ll report it. (For example, on a 1041, it’s listed on Line 8: Other Income.)

Yes, if you had income taxes withheld from the distribution that are reported on your 1099R.

You may have had an outstanding loan balance from a retirement account when you left an employer or from a surrendered life insurance policy. (Check box 7.) In that case, the IRS requires you pay taxes on it. Your tax advisor can explain more.

Did you have an outstanding loan balance from a retirement account when you left an employer or from a surrendered life insurance policy? That’s a taxable event.