Received a 1099-R from Nationwide, but I've NEVER used their services before?

This happens more often than you'd think. A 1099-R specifically reports distributions from pensions, annuities, retirement plans, or insurance contracts. There are a few common explanations: 1) You might have had a small 401(k) or pension with a previous employer that was managed by Nationwide, even if you didn't directly open an account. Sometimes employers transfer small balances to financial institutions when you leave. 2) It could be from an old retirement account that was "force transferred" due to inactivity or small balance. Many financial institutions have policies to close accounts under certain dollar amounts. 3) It might be from a group policy your employer had, like a pension that was terminated and distributed to participants. I'd recommend calling Nationwide directly with the info from the 1099-R. They can look up exactly what account this distribution came from. Don't ignore it, as the IRS is expecting you to report this income.

After dealing with a similar situation last year, I found an incredible resource called taxr.ai (https://taxr.ai) that really helped me figure out my mystery 1099 situation. I was getting forms from companies I didn't recognize too, and was pulling my hair out trying to track everything down. Their document analyzer let me upload the 1099-R and it actually explained exactly what type of distribution it was and provided the most likely explanations for why I received it. The system also showed me what lines on my tax return would be affected and how to properly report it even though I never received the money. Saved me hours of research and phone calls!

Just wanted to follow up - I tried taxr.ai with my mystery 1099 situation and it was seriously helpful! Uploaded my form and it immediately identified it was related to a tiny retirement account from a temp job I had in 2019. The analysis showed exactly what the distribution code meant (it was a "1" which meant early distribution) and explained why I never saw the money (the check was sent to my old address). I called the company with the specifics from the report and they confirmed everything right away and are reissuing the payment. The tool even showed me exactly how to report it on my taxes so I don't get penalized. Such a time-saver!

Have you tried calling Nationwide? I had a similar issue last year with a mystery 1099-R, and spent WEEKS trying to get through their customer service menu hell. After hours on hold and being transferred around, I finally discovered it was from an old employer's terminated pension plan. If you're struggling to get through to anyone, I'd recommend using Claimyr (https://claimyr.com). They have this service that somehow gets you past the hold times when calling companies like Nationwide. They have a demo video here: https://youtu.be/_kiP6q8DX5c that shows how it works. Basically, they wait on hold for you and then call you when a real human picks up.

Ok so I was totally wrong about Claimyr. I actually tried it today out of desperation after spending 2 hours on hold with Nationwide myself. Within 45 minutes, I got a call back and was connected to an actual human at Nationwide! Turns out my mystery 1099-R was from a tiny life insurance policy my grandparents had set up for me when I was a kid that matured last year. I had completely forgotten about it. The agent was able to tell me they sent a check to my old address months ago, but it was never cashed. They're reissuing it to my current address now. Would have never figured this out without finally getting through to a real person. Definitely worth it for resolving these confusing tax document situations.

Don't want to alarm you, but also consider the possibility of identity theft. Sometimes scammers open accounts in your name and then try to withdraw money. Might want to check your credit report just to be safe.

Could this be from some class action settlement you were part of? I got a random 1099 last year and it turned out I was included in some lawsuit against a company I used years ago. Never even knew about it until the tax form showed up!

I'd definitely start by checking your credit report for any accounts you don't recognize, but also look through old paperwork or emails from previous employers. Sometimes companies will automatically enroll employees in small life insurance policies or retirement savings programs that you might not remember signing up for. Another thing to check - do you have any family members who might have opened an account on your behalf years ago? Parents sometimes set up small savings or insurance policies for their kids that mature later. The $390 amount is pretty typical for something like a small whole life insurance policy cash value or a forgotten 401k rollover. When you call Nationwide, ask them specifically what type of account it was (401k, IRA, insurance contract, etc.) and when it was opened. They should be able to tell you the original source even if you don't remember it. Don't panic about identity theft until you rule out these more common explanations first.

This is definitely confusing, but you're not alone in this situation! A few things to consider that might help solve the mystery: First, check what distribution code is in Box 7 of your 1099-R - this will tell you exactly what type of distribution it was. Code "1" means early distribution, "4" means death benefit, "G" means direct rollover, etc. Each code points to a specific scenario. Second, the $390 amount suggests this could be from a small employer-sponsored benefit you forgot about. Many companies automatically enroll employees in basic life insurance (often 1x your salary) or contribute small amounts to retirement plans. When you leave the company, these small balances sometimes get distributed years later due to administrative costs. Also worth noting - if you've moved recently, you might have missed earlier correspondence from Nationwide explaining the distribution. They're legally required to send notices before distributing funds, but if it went to an old address, you wouldn't have seen it. I'd recommend calling Nationwide's customer service line and asking them to look up the account history. They can tell you when the account was opened, what type it was, and what employer or entity originally set it up. Don't worry about reporting the income on your taxes even if you never received the money - the IRS just needs to see that you're aware of the distribution.