IRA/HSA Codes

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Available IRA Codes or Available HSA Codes

3127

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This screen is accessed by clicking a lookup to select an IRA or HSA code.

  Visit Show Me the Steps for easy instructions on how to use CU*BASE to complete tasks related to IRAs.

·        If an IRA transaction is selected, the IRA Codes will appear. If an HSA transaction is selected, the HSA Codes will appear. Select the appropriate IRA or HSA deposit or withdrawal code for the transaction posted. Deposits codes are listed at the top of the screen and withdrawal codes are listed at the bottom of the screen.

·        NOTE:  CU*BASE assumes that all credit transactions using the “redeposit” code for HSA accounts are for current year distributions made in error and will report to the IRS by reducing the distributions by this amount.  If a credit union would like to accept a redeposit for a distribution posted in the prior calendar year, any reporting will need to be made manually by the credit union.  Please refer to the IRA website http://www.irs.gov/ for information regarding HSA redeposits.

IRA Codes

IRA Code

Description

Trad

Edu

Roth

SEP

I

(CR/DR) Internal Transfer Non Reported

Y

Y

Y

Y

 

A

(CR)  Direct Transfer

Y

Y

Y

Y

C

(CR)  Current Year Contribution

Y

Y

Y

Y

H

(CR)  Conversion Contr to a Roth

N

N

Y

N

L

(CR)  Rollover Contribution

Y

Y

Y

Y

M

(CR) Recharacterized Contribution

Y

N

Y

N

V

(CR) Dividend

Y

Y

Y

Y

Y

(CR) Prior Year Contribution

Y

Y

Y

Y

 

D

(DR) Rollover Withdrawal Upon Death

Y

Y

Y

Y

F

(DR) Federal Backup Withholding

Y

Y

Y

Y

G

(DR) Rollover to a Qualified Plan

Y

Y

Y

Y

J

(DR) Early Distribution - Roth

N

N

Y

N

K

(DR) State Withholding

Y

Y

Y

Y

N

(DR) Recharacterized Cont Curr Year

Y

N

Y

N

O

(DR) Other Withdrawals

Y

Y

Y

Y

P

(DR) Excess Contribution Prior Year

Y

Y

Y

Y

Q

(DR) Qualified Distr From Roth

N

N

Y

N

R

(DR) Recharacterized Cont Prior Year

Y

N

Y

N

T

(DR)  Roth Distr With Exception

N

N

Y

N

W

(DR) Direct Transfer

Y

Y

Y

Y

1

(DR) Early Distr No Known Exception

Y

Y

N

Y

2

(DR) Early Distr With Exception

Y

N

N

Y

3

(DR) Disability Distribution

Y

Y

N

Y

4

(DR) Death Distribution

Y

Y

N

Y

5

(DR) Prohibited Transaction

Y

Y

Y

Y

7

(DR) Normal Distribution

Y

Y

N

Y

8

(DR) Excess Contribution Curr Year

Y

Y

Y

Y

HSA Codes

HSA Code

Type

Description

C

(CR)

Current Year Contribution

I

(CR)

Transfer/Other (Non-Reportable)

L

(CR)

Rollover

R

(CR)

Redeposit

V

(CR)

Dividends Paid

Y

(CR)

Prior Year Contribution

 

1

(DR)

Normal Distribution

2

(DR)

Withdrawal Excessive

3

(DR)

Disability Distribution

4

(DR)

Death Distribution (Year of)

5

(DR)

Prohibited Distribution

6

(DR)

Death Distribution (Yr After)

7

(DR)

Rollover

8

(DR)

Transfer/Other (Non-Reportable)

9

(DR)

Non Reportable

 

 

Link to ID: http://www.cuanswers.com/doc/cubase/cubase.htm#3127g.htm