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"How is this reported at tax time?"
By the plan manager or the account manager.
"1099-R and if so what is the code in box 7?"
See the codes here:
See the tax topic here:
https://www.irs.gov/taxtopics/tc558
We don't know if this person still works there or not, has any other funds that were rolled into that plan or not.
"Do I have to make adjustments on form 5329?"
"In general, an eligible state or local government section 457 deferred compensation plan isn't a qualified retirement plan and any distribution from such plan isn't subject to the additional 10% tax on early distributions. However, any distribution attributable to amounts the section 457 plan received in a direct transfer or rollover from one of the qualified retirement plans listed above would be subject to the additional 10% tax."
"Level Up" is a gaming function, not a real life function.
