| Distribution Codes | Explanations |
| 1. Early distribution, no known exception | Participant is under age 59 ½ and there is no known exception such as for medical expenses, first-time home purchase, qualified educational expenses or a qualified reservist distribution. May be subject to a 10% penalty as well as income taxes. |
| 2. Early distribution, exception applies | Participant is under age 59 ½ , however an exception applies such as those noted above in the description for Code 1. Not likely subject to the 10% penalty. |
| 4. Death | Distribution is due to the death of the participant |
| 7. Normal distribution | Participant is at least age 59 ½ (avoids 10% penalty) |
| J. Early Roth distribution | Participant is under age 59 ½ , distribution is subject to 10% penalty |
| N. Recharacterized IRA contribution made in current year | Participant recharacterized an IRA contribution in the same year in which the contribution was made |
| Q. Qualified Roth distribution | Participant has owned the Roth account for at least 5 years and is either: • At least 59 ½ • Deceased or • Disabled |
| R. Recharacterized IRA contribution made in prior year | Participant recharacterized an IRA contribution which was made in the prior year |
| T. Roth IRA distribution, exception applies | Unknown if participant has owned the Roth for at least 5 years, but he/she is either: • At least 59 ½ • Deceased • Disabled |
*This is a truncated list of possible codes, and does not contain full explanations for each code. Consult with your tax adviser or visit the IRS website at www.irs.gov for more details.
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