Form 1099-R Box 7 Codes 2026: Which Trigger the 10% Tax
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Quick Answer
Box 7 of Form 1099-R is where the payer tells the IRS what kind of distribution you received, and the 2026 form renames it Box 7a. The IRS lists 30 codes (digits 1 to 9 and letters A to H, J to N, P to U, W and Y), the payer may enter at most two, and the IRS says it uses them “to help determine whether the recipient has properly reported the distribution” (Instructions for Forms 1099-R and 5498 (2026), dated June 17, 2026). Three codes say an early distribution has no known exception: code 1 (plan or traditional IRA), J (Roth IRA) and S (SIMPLE IRA in its first 2 years). Codes 2, 3 and 4 say an exception applies, and code 7 is a normal distribution at age 59½ or older. The tax is 10% of the part includible in income under 26 U.S.C. 72(t)(1), and 25% for a SIMPLE IRA in its first 2 years (code S). If code 1 is right on every Form 1099-R, you skip Form 5329 and multiply the taxable amount by 10% on Schedule 2, line 8. If it is wrong, or you qualify for an exception, you file Form 5329 and enter an exception number from 01 to 23. As of October 23, 2026 the newest Form 5329 instructions the IRS has posted are the 2025 ones (dated November 19, 2025).
Key Takeaways
- Table 1 of the 2026 instructions has 30 codes. Of them, codes 1, J and S say no exception is known, codes 2, 3 and 4 say an exception applies, code 5 says the account is no longer an IRA, and code S doubles the rate to 25% (26 U.S.C. 72(t)(6)). Code 7 is for age 59½ or older, and “Do not use code 7 for a Roth IRA”.
- The 2026 form has new boxes: box 7 became 7a, the IRA/SEP/SIMPLE checkbox became 7b, and the IRS added 7c (Trump account) and 7d (earnings on excess contributions). Code Y for a qualified charitable distribution is “optional” for tax year 2026, so a QCD may arrive coded 7 alone.
- Code 1 is not an accusation. The instructions tell the payer to use it “even if” the money went to medical expenses, higher education, a first home, a birth or adoption, an emergency or a disaster, because the payer does not know. The exception is yours to claim on Form 5329, line 2.
- The Form 5329 instructions say that if you were 59½ or older when the money came out and the 1099-R still shows code 1, J or S, you enter that amount on line 2 with exception number 12.
- For an IRA holding real estate, an LLC interest or an unlisted fund, the instructions tell the payer to report the property at fair market value on the date of distribution in box 1 and to add code K. Our arithmetic: $120,000 of LLC interest taken at 56 with codes K and 1 carries a $12,000 10% tax, and none at 60 with codes K and 7, before income tax.
- Code 5 is the one to fear in a self-directed IRA: the instructions treat the IRA as distributed on the first day of the year of the prohibited transaction. At age 50 with a $300,000 IRA, the 10% alone would be $30,000 (our arithmetic, assuming no basis and no exception).
CSV · 152 rows
Form 1099-R distribution codes for 2026 and the Form 5329 exception numbers
152 rows: the 2026 form changes, all 30 codes with the IRS wording, the codes each can be paired with and our reading of the 10% tax, the 24 Form 5329 line-2 exception numbers, the filing shortcuts with their sources and six worked examples (our arithmetic).
What changed on the 2026 form, and how final the instructions are
The 2026 Instructions for Forms 1099-R and 5498 list these changes under “What’s New”. They matter because every article and software guide that says “Box 7” describes the older layout.
| Item | What the 2026 instructions say | What it means for you |
|---|---|---|
| Box 7a | “We renumbered box 7 and the ‘IRA/SEP/SIMPLE’ checkbox to boxes 7a and 7b” | The distribution codes are now in box 7a, and the IRA/SEP/SIMPLE checkbox is 7b. Where this page says box 7 for an older form, a 2026 form says box 7a. |
| Box 7c and 7d | New boxes: 7c is a Trump account checkbox, 7d reports earnings on excess contributions distributed from a Trump account | Only matters if the account is a Trump account. For one, code 8 is used for excess contributions, code 4 for death in the growth period and code G for a qualified ABLE rollover. |
| Box 8a and 8b | Box 8 and the percentage box were renumbered to 8a and 8b | Cosmetic for an IRA or 401(k) holder. |
| Code Y | “For tax year 2026, the use of code Y to report a QCD is optional” | A qualified charitable distribution may come coded 7 alone. You still report it as a QCD on your Form 1040. |
| Annuitized contracts | Reporting the actuarial value of an annuitized contract in box 8a is optional for 2026 | A missing box 8a on an annuity is not an error this year. |
| Long-term care | For tax years after 2026, qualified long-term care distributions are reported on Form 1099-R and are not subject to the 10% tax | Not part of 2026 forms; the code 1 description already names a qualified long-term care distribution among the exceptions the payer may not know. |
Source: Instructions for Forms 1099-R and 5498 (2026), “What’s New” and “Box 7a”; the IRS Form 1099-R page, last reviewed 16-Oct-2026.
How final is this? The assumption that the 2026 instructions are only a draft did not hold when we checked. The PDF at irs.gov/pub/irs-pdf/i1099r.pdf is dated June 17, 2026 and shows no “draft” marking in its text, the IRS Form 1099-R page (last reviewed 16-Oct-2026) lists the 2026 form and instructions as the “Current revision”, and the form itself says “Created 4/2/26”. That is our reading of those pages; the IRS can change a code description before January, so re-open the PDF before you rely on a single code. The form is first filed with the IRS in January 2027 for 2026 distributions. The latest Instructions for Form 5329 on irs.gov are the 2025 edition (November 19, 2025), so every Form 5329 line number below is the 2025 line.
The 30 codes, with what each one does to your return
The first three columns are the IRS’s Table 1: the code, its meaning, and the right-hand column “Used with code (if applicable)”. The last column is our reading of whether the code points to the 10% additional tax, built from the Instructions for Form 5329 (2025), the 2025 Form 1040 instructions and 26 U.S.C. 72(t). A payer enters at most two codes, and “If two or more distribution codes are not valid combinations, you must file more than one Form 1099-R.”
| Code | What the payer tells the IRS (Table 1) | Used with | Points to the 10% tax? (our reading) |
|---|---|---|---|
| 1 | Early distribution, no known exception. Used if the participant is under age 59½ and the payer does not know whether an exception applies, even for medical, education, first-home, birth or adoption, emergency, disaster and long-term care distributions | 8, B, D, K, L, M or P | Yes unless you show an exception: 10% of the taxable part (Schedule 2 line 8 or Form 5329 Part I) |
| 2 | Early distribution, exception applies. The payer knows it is, for example, a Roth conversion, an IRS levy, a plan distribution after separation from service in or after the year of age 55, or a series of substantially equal periodic payments | 8, B, D, K, L, M or P | No 10% tax is signalled; Form 5329 is needed only if the code does not cover the whole amount (our reading) |
| 3 | Disability | D | No: exception 03 on Form 5329 covers total and permanent disability |
| 4 | Death. A payment to a decedent’s beneficiary, including an estate or trust, at any age; with code Y, a QCD from an inherited IRA | 8, A, B, D, G, H, K, L, M, P or Y | No: exception 04 on Form 5329 |
| 5 | Prohibited transaction involving the IRA. The instructions say the assets are treated as distributed on the first day of the tax year of the transaction, and that the account is no longer an IRA | None | Generally yes if under 59½: the Form 5329 instructions treat certain prohibited transactions as distributions subject to the 10% tax |
| 6 | Section 1035 exchange of life insurance, annuity, long-term care or endowment contracts | W | No: a tax-free exchange, box 2a is zero |
| 7 | Normal distribution. Age 59½ or older from a plan or traditional IRA, a Roth conversion at 59½ or older, and insurance or annuity payouts; generally used if no other code applies; never for a Roth IRA | A, B, D, K, L, M or Y | No 10% tax is signalled (age 59½ or older) |
| 8 | Excess contributions plus earnings, or excess deferrals, taxable in 2026 (corrective IRA distribution under section 408(d)(4)) | 1, 2, 4, B, J or K | Earnings can be hit; exception 21 if returned by the return due date, with code 1 or 4 beside it if applicable |
| 9 | Cost of current life insurance protection | None | Not applicable (reported on its own Form 1099-R) |
| A | May be eligible for the 10-year tax option (participants born before January 2, 1936) | 4 or 7 | No: the tax is figured on Form 4972 |
| B | Designated Roth account distribution (for example a Roth 401(k)) | 1, 2, 4, 7, 8, G, L, M, P or U | If early, the box 2a amount goes on Form 5329 line 1 |
| C | Reportable death benefits under section 6050Y | D | Not applicable |
| D | Annuity payments from nonqualified annuities and life insurance distributions that may be subject to tax under section 1411 | 1, 2, 3, 4, 7 or C | Annuity contracts have their own 10% rule in 26 U.S.C. 72(q); not an IRA code |
| E | Distributions under the Employee Plans Compliance Resolution System (EPCRS) | None | Not applicable |
| F | Charitable gift annuity | None | Not applicable |
| G | Direct rollover of a plan distribution to a qualified plan, 403(b), governmental 457(b) or IRA; also a direct payment from an IRA to an employer plan | 4, B or K | No: box 2a is zero |
| H | Direct rollover of a designated Roth account distribution to a Roth IRA | 4 | No: box 2a is zero |
| J | Early distribution from a Roth IRA, no known exception | 8, P or S | Maybe: Form 8606 decides what goes to Form 5329 line 1 (line 25c), plus any recapture amount |
| K | Distribution of traditional IRA assets without a readily available FMV: unlisted stock, LLC or partnership interests, real estate, notes, options | 1, 2, 4, 7, 8, G or Y | K does not decide it; the age code beside it does |
| L | Loan treated as a deemed distribution under section 72(p) | 1, 2, 4, 7 or B | Maybe: the instructions say it may also be subject to the 10% tax, shown by the numeric code beside it |
| M | Qualified plan loan offset (plan termination or severance from employment) | 1, 2, 4, 7 or B | Maybe: the offset amount can be rolled over until the return due date, with extensions |
| N | Recharacterized IRA contribution made for 2026 | None | No |
| P | Excess contributions plus earnings, or excess deferrals, taxable in 2025 or a previous year | 1, 2, 4, B or J | Same as code 8 |
| Q | Qualified distribution from a Roth IRA (5-year period met, and age 59½, death or disability) | None | No |
| R | Recharacterized IRA contribution made for 2025 or a previous year | None | No |
| S | Early distribution from a SIMPLE IRA in the first 2 years, no known exception | J | Yes, and at 25% instead of 10% (26 U.S.C. 72(t)(6)) |
| T | Roth IRA distribution, exception applies (5-year period not known to be met) | None | No |
| U | Dividends distributed from an ESOP under section 404(k) | B | No: exception 15 on Form 5329 |
| W | Charges or payments for qualified long-term care insurance under combined arrangements | 6 | No |
| Y | Qualified charitable distribution (QCD) claimed under section 408(d)(8); optional for 2026 | 4, 7 or K | No: a QCD is excluded from income |
Source: Instructions for Forms 1099-R and 5498 (2026), Table 1 and the box 7a instructions; the last column is our reading of the Instructions for Form 5329 (2025), the Instructions for Form 1040 (2025) and 26 U.S.C. 72(t). The pairings are those printed in Table 1; check the PDF before relying on an unusual combination.
Two cautions from the same instructions. First, “Only three numeric combinations are permitted on one Form 1099-R: codes 8 and 1, 8 and 2, or 8 and 4”, so a year with part of a withdrawal at 58 (code 1) and part at 60 (code 7) produces two forms. Second, a QCD is written with code Y first: “When using code Y, you must use either code 4, 7, or K.”
Which line of your return takes each code
The 10% tax has one home, Form 5329, Part I, and one shortcut. Line 1 is “Early distributions includible in income”, line 2 is “Early distributions included on line 1 that are not subject to the additional tax”, line 3 is the difference, and line 4 is 10% of line 3, carried to Schedule 2 (Form 1040), line 8.
| Your 1099-R shows | What the instructions say to do | Source |
|---|---|---|
| Code 1 on every form, tax due on the whole taxable amount | Skip Form 5329: “multiply the taxable amount of the distribution by 10% (0.10) and enter the result on line 8” and check the box on line 8 | Instructions for Form 1040 (2025), Schedule 2 line 8; Instructions for Form 5329 (2025) |
| Code 1, but an exception covers all or part of it | File Form 5329: the full amount on line 1, the exempt amount on line 2 with its exception number (01 to 23, or 99 for more than one) | Instructions for Form 5329 (2025), line 2 |
| Code 1, J or S, but you were 59½ or older | Line 2, exception number 12: “Include on line 2 the amount you received when you were age 59½ or older” | Instructions for Form 5329 (2025), exception 12 |
| Code 2, 3, 4 or 7 | No 10% tax is signalled. You file Form 5329 only if “box 7 of your Form 1099-R doesn’t indicate an exception or the exception doesn’t apply to the entire distribution” | Instructions for Form 5329 (2025), Who Must File |
| Code G or H (direct rollover) | Total on Form 1040 line 4a; if all rolled over, -0- on line 4b and box 1 checked on line 4c. The rolled-over part is not subject to the 10% tax | Instructions for Form 1040 (2025), lines 4a and 4b, Exception 1; Instructions for Form 5329 (2025) |
| Code 2 or 7 on a Roth IRA conversion | Total on line 4a; Form 8606 gives line 4b. “A distribution from a traditional IRA that was converted to a Roth IRA” is outside the 10% tax | Instructions for Form 1040 (2025), Exception 2; Instructions for Form 5329 (2025) |
| Code J (Roth, early) | Form 8606 sets the taxable part; it goes on Form 5329 line 1 (8606 line 25c), with any recapture amount for 2021 to 2025 conversions | Instructions for Form 5329 (2025), line 1 |
| Code S (SIMPLE, first 2 years) | Same Part I, but line 4 uses 25%: “you must multiply that amount by 25% instead of 10%” | Instructions for Form 5329 (2025), line 4; 26 U.S.C. 72(t)(6) |
| Code Y with 7, 4 or K (QCD) | Total on line 4a, -0- on line 4b if all of it is a QCD, box 2 checked on line 4c. A QCD is not an early distribution | Instructions for Form 1040 (2025), Exception 3 |
| Code 8 or P (excess contribution) | Earnings can be an early distribution; exception 21 covers the income on excess contributions returned by the return due date | Instructions for Form 5329 (2025), exception 21 |
Source: Instructions for Form 1040 (2025) and Instructions for Form 5329 (2025). The 2026 versions were not posted on October 23, 2026.
Form 5329 exception numbers are the other half of the problem, because a payer who writes code 1 is not telling the IRS which one fits. These are the ones that most often meet a 1099-R. All 24 line-2 numbers are in the CSV.
| Exception no. | What it covers (Instructions for Form 5329, 2025) | Code the payer may have used |
|---|---|---|
| 01 | Plan distributions (not IRAs) after separation from service in or after the year you reach age 55, or age 50 for qualified public safety employees and private sector firefighters | 2, or 1 if the payer did not know |
| 02 | A series of substantially equal periodic payments | 2, or 1 |
| 03 | Total and permanent disability | 3 |
| 04 | Death | 4 |
| 05 | Plan distributions up to unreimbursed medical expenses minus 7.5% of AGI | Usually 1 |
| 08 | IRA distributions for qualified higher education expenses | Usually 1 |
| 09 | IRA distributions for the purchase of a first home, up to $10,000 | Usually 1 |
| 12 | Distributions incorrectly indicated as early by code 1, J or S (amount received at 59½ or older) | 1, J or S |
| 19 and 20 | A qualified birth or adoption distribution (up to $5,000) and a terminal illness distribution | Usually 1 |
| 21 | Corrective distribution of income on an excess contribution, made by the return due date | 8 or P |
Source: Instructions for Form 5329 (2025), Line 2. The right-hand column is our reading.
See our guides to the age-55 rule for 401(k) plans and to 72(t) equal periodic payments for the two exceptions that are most often coded 1 by mistake.
When the code is wrong: what to check and what to ask for
The payer’s own duty is stated plainly: “If the codes you enter are incorrect, the IRS may improperly propose changes to the recipient’s taxes”, and a payer that finds an error on a filed form “must correct it as soon as possible”. These are the mismatches we would check first, with the rule from the instructions and what a reader can do (our reading; a tax professional should confirm).
| What you see | What the instructions say | What to do (our reading) |
|---|---|---|
| Taken at 61, coded 1 | Code 1 is only for a participant who has not reached age 59½ | Ask for a corrected form. If you cannot get one, file Form 5329 and put the amount on line 2 with exception number 12. |
| Taken at 56 from a 401(k) after leaving the employer at 55, coded 1 | Code 2 covers a plan distribution “after separation from service in or after the year the participant has reached age 55” | File Form 5329 with exception 01. It does not apply to IRA money. |
| Direct rollover to an IRA, box 2a shows the full amount, code 7 or no G | Report a direct rollover with -0- in box 2a and code G | Ask for a corrected form. On the return show the total on line 4a and -0- on line 4b, with a note if the money went to a plan. |
| Roth conversion at 55, coded 1 | Code 2 for a conversion under 59½, code 7 at 59½ or older; box 1 is the full amount converted | Ask for a correction. Keep the custodian’s conversion confirmation and the Form 5498 box 3 amount, since a conversion is outside the 10% tax. |
| Roth IRA withdrawal coded 7 | “Do not use code 7 for a Roth IRA”; use Q, T or J | Ask for a corrected form. The Roth code decides whether Form 8606 is needed. |
| QCD with no code Y | Code Y is optional for 2026 | Report it as a QCD on lines 4a, 4b and 4c anyway, and keep the charity’s receipt. |
| Equal periodic payments for years, now over 59½, coded 2 in the year they were changed | Use code 1 if the series was modified within 5 years of the first payment, even over 59½ | Ask the payer whether it saw a change in the payments. Under 26 U.S.C. 72(t)(4) a modification within the period can add the tax that would have applied, plus interest. |
| LLC interest or real estate taken out, no code K | Enter code K for a traditional IRA distribution of assets without a readily available FMV | Ask the custodian for the valuation it used and for a corrected form. |
| Traditional IRA with after-tax basis, box 2a equals box 1, box 2b checked | The payer is told to report the total in box 2a and check “taxable amount not determined” | This is normal. Form 8606 sets the taxable part; see the pro-rata discussion in our [backdoor Roth guide](/articles/backdoor-roth-pro-rata-rule-illiquid-ira-assets-2026). |
| Code 5 | The IRA is treated as distributed on the first day of the year of the prohibited transaction, and “the account is no longer an IRA” | Do not wait for April. Get written advice before filing; see the [self-directed IRA rules](/articles/self-directed-ira-real-estate-rules-2026). |
Source: Instructions for Forms 1099-R and 5498 (2026), box 7a, box 2a, box 1 and Table 1; Instructions for Form 5329 (2025); Instructions for Form 1040 (2025). Third column is our reading.
IRAs that hold real estate, LLC interests or fund shares
For an investor in our corner of the market, the 1099-R gets harder to read when the IRA owns something that has no price. Four rules in the 2026 instructions carry most of it.
- Property goes in at fair market value. “If you distribute employer securities or other property, include in box 1 the FMV of the securities or other property on the date of distribution.” An in-kind distribution of an LLC interest, a note or a share of a non-traded fund is therefore a taxable distribution of that value, with no cash in hand.
- Code K flags it. “For a distribution from a traditional IRA of assets that do not have a readily available FMV, enter code K in box 7a.” The list includes ownership interests in an LLC or partnership, real estate, and stock or debt “not readily tradable on an established securities market”. K travels with a numeric code from Table 1 (1, 2, 4 or 7), and with Y for a QCD.
- Box 2a is the whole amount. For a traditional IRA the payer reports the total distributed in box 2a and checks “taxable amount not determined” in box 2b, so any after-tax basis is settled on Form 8606 and not by the payer.
- The year-end value is a separate form. Form 5498 box 5 is the account value on December 31, 2026, and boxes 15a and 15b flag the hard-to-value assets, with code D for real estate, C for an LLC interest and E for a partnership or trust interest. The custodian owes you that statement by February 1, 2027.
Here is how those rules turn into dollars, using round numbers of our own.
| Case (our example) | 10% additional tax | Arithmetic (our arithmetic) |
|---|---|---|
| Age 52, $50,000 IRA withdrawal, code 1 only, box 2a $50,000 | $5,000 | 0.10 x 50,000; Schedule 2 line 8, no Form 5329 if no exception applies |
| Age 58, left employer at 56, $50,000 from the 401(k) coded 1, exception 01 claimed | $0 | Form 5329 line 1 $50,000, line 2 $50,000, line 3 $0; it would be $5,000 if no exception were claimed |
| Age 56, IRA distributes an LLC interest worth $120,000, codes K and 1 | $12,000 | 0.10 x 120,000; the same distribution at age 60 with codes K and 7 carries no 10% tax |
| Age 45, SIMPLE IRA in its first 2 years, $20,000 coded S | $5,000 | 0.25 x 20,000, against $2,000 at 10% |
| Age 50, $300,000 IRA after a prohibited transaction, code 5 | $30,000 | 0.10 x 300,000 if there is no basis and no exception; generally subject to the tax |
| Age 57, Roth conversion of $80,000 coded 2 | $0 | A conversion is outside the 10% tax; $8,000 if it were coded 1 and left uncorrected |
Income tax on the taxable amount is separate and comes on top in every row. Examples are ours; the rates are 26 U.S.C. 72(t)(1) and (6).
Three of our existing guides cover the neighbouring decisions: required minimum distributions from IRAs with illiquid assets, qualified charitable distributions from an illiquid IRA and Roth conversions of alternative assets. For rollovers, see direct versus 60-day rollovers, and for an inherited IRA, the 10-year rule guide.
Verdict: how to read your 1099-R in January
Of the 30 codes in Table 1, codes 2, 3 and 4 tell the IRS that an exception applies, and codes 1, J and S say none is known. Codes G, H, 6, N, Q, R, T, W and Y report money that is not an early distribution, and K, L, M and B leave the decision to the numeric code beside them. That gives a short order of work:
- Code 1, you were under 59½, no exception fits: the 10% tax is real. Multiply the taxable amount by 10% on Schedule 2, line 8, and skip Form 5329.
- Code 1, but an exception fits: file Form 5329, with the exception number on line 2. Most readers who lose money here lose it by skipping this form.
- Code 7, 2, 3 or 4: no 10% tax is signalled. Check that the code matches your facts, because a wrong code can draw an IRS notice.
- Code G or H: a rollover. Check that box 2a is -0- and that the money arrived in the new account.
- Code K: an in-kind distribution of an illiquid asset. Ask for the valuation, and the numeric code beside the K sets the tax.
- Code 5: stop and get advice before filing.
What a reader can do with this
- Before December 31, 2026, ask the custodian which code it will use. For an early withdrawal, a conversion or an in-kind distribution, ask for the age it will test, the code it will enter and how it will value any property. The 59½ test is a date, so a distribution taken one day before the birthday is an early one (26 U.S.C. 72(t)(2)(A)(i), our reading).
- When the form arrives, compare four boxes with your own records: box 1 (gross), box 2a (taxable, or blank with box 2b checked for a traditional IRA), box 5 (basis recovered) and box 7a (codes). A rollover coded as a distribution is the most common mismatch.
- If the code is wrong, ask the payer for a corrected form in writing. The instructions require a payer to correct a filed form “as soon as possible”. Keep the request and the reply.
- If the code is right but incomplete, file Form 5329. Put the amount on line 1, the amount that qualifies on line 2 and the exception number beside it.
- Check the year-end value. Your custodian owes you the December 31, 2026 value and the hard-to-value asset flags (Form 5498 boxes 5, 15a and 15b) by February 1, 2027, and files Form 5498 with the IRS by May 31, 2027.
- Ask a tax professional about anything with code 5, L, M or a modified payment series. Those are the codes where the numbers can be large and the rules turn on facts the payer cannot see.
This is analysis of public documents, not investment, legal or tax advice.
FAQ
Update alert · free
An email when the Form 1099-R distribution codes and Form 5329 numbers change
When a rate, rule or filing behind this page changes: what changed, the one number that matters, and the source to check it yourself.
Related IRA forms: Form 5498 box by box · Form 8606 line by line.
Sources, read and saved on October 23, 2026: IRS Instructions for Forms 1099-R and 5498 (2026, dated June 17, 2026) and Form 1099-R (2026); IRS About Form 1099-R page (last reviewed 16-Oct-2026); Instructions for Form 5329 (2025, dated November 19, 2025) and Form 5329 (2025); Instructions for Form 1040 (2025); 26 U.S.C. 72 (Cornell LII). Code readings, the “what to do” columns and all worked examples are our own, built from those documents.
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