IRA Withdrawal Codes

Traditional IRA

Code	Description
1	Early distribution, no exception, age < 59 1/2, when codes 2, 3 or 4 do not apply
2	Early distribution, age < 59 1/2, for conversions, equal periodic payments or IRS levy
3	Disability
4	Account holder deceased
7	Normal distribution, age = or > 59 1/2
8	Remove excess contribution, current year, age = or > 59 1/2
81	Remove excess contribution, current year, age < 59 1/2
G	Direct rollover and direct payment
N	Recharacterization current year
P	Remove excess contribution, previous year, age = or > 59 1/2
P1	Remove excess contribution, previous year, age < 59 1/2
R	Recharacterization previous year
TO	Transfer Out*
IT	Internal Transfer
SW	State withholding correction
FC	Fee correction
FW	Federal withholding correction

*Indicates distributions transferred directly to another financial institution, not transfers between IRA accounts at your credit union.

Roth IRA

Code	Description
J	Early distribution, no exception, age < 59 1/2
T	Exception applies
Q	Qualified
8J	Remove excess contribution, current year, age < 59 1/2
8T	Remove excess contribution, current year, age = or > 59 1/2
N	Recharacterization current year
PJ	Remove excess contribution, previous year, age < 59 1/2
PT	Remove excess contribution, previous year, age = or > 59 1/2
R	Recharacterization previous year
TO	Transfer Out*
IT	Internal Transfer
SW	State withholding correction
FC	Fee correction
FW	Federal withholding correction

*Indicates distributions transferred directly to another financial institution, not transfers between IRA accounts at your credit union.

Coverdell ESA

Code	Description
1	Normal distribution
2	Remove excess contrib curr year
3	Remove excess contrib prior year
4	Disability
5	Account holder deceased
NM	Normal distribution - not valid after November 2010
EC	Remove excess contributions - not valid after November 2010
TO	Transfer Out*
IT	Internal Transfer

*Indicates distributions transferred directly to another financial institution, not transfers between IRA accounts at your credit union.