I was getting recoveries showing up for a couple of weeks after they "repurchased" my outstanding loans.  But then I think my activity log also showed them repurchasing the defaulted loans at zero value and I haven't received any recoveries since that time.  They did cash out all of my outstanding loans at par value including those that were in late status...so given that some of those would probably eventually default, it's probably somewhat close to a wash with the recoveries now also being wiped out.  Although there would seem to be an occasional sizable recovery....not all of them were pennies.

I have now transferred all of my cash from LendingClub to the Alto account and have started the process of moving the funds from Alto to my other Roth Custodian.  I don't have the time or interest to start evaluating another "alternative" investment platform.  LendingClub was fun while it lasted.  Not sure it was ever really worth it....had some great years, but then some awful years and given the tax treatment of gains vs losses (in my non IRA account), I think I'd have done better in regular market index funds over the time.  Thankfully it was at least not a "scam" and I didn't lose anything I couldn't afford to. 

I still have notes on the taxable side, and they will all reach maturity by September 2024.  Seems like I'm getting the best returns ever now as most have aged past the likely default dates and are at high rates.  But I'm getting the great returns on just a fraction of the amount I once had invested.

I am here... bi-yearly 

I got the email about the notes repurchase, which I ignored, and then got an email from Alto saying I needed to transfer funds, so I went and finally logged into my LC account. I saw a whopping $16 there. Tried to see some kind of transaction history, where it came from, what they bought - nada.

But I transferred the $16 out. Later on I'll deal with what to do with the Alto account, right now it just has the cash sitting there, which given the way the markets have been going laterly.. probably not a bad thing.

Just wondering if anyone got this notes repurchase email from them recently.

I did not. But I am down to my last active note, so I am probably not part of the target audience for such a message.

I've never had tax forms to deal with on an IRA transfer in the past.   Seems like this is one thing the IRS has made totally automatic.  :-)

I do the backdoor Roth IRA and there are some forms that show the withdrawal from the regular IRA and conversion to the Roth (form 5498, I think?).  I thought maybe there would be something similar here and that somehow that transfer would have to be documented.  But, yes, looks like there's nothing that has to be done!

Found an IRS Interactive Tax Assistant....seems the answer is nothing to report!

Answers to Your Questions About Income
Do I need to report the transfer or rollover of an IRA or retirement plan on my tax return?
You do not need to include your tax-free transfer on your tax return.
Your General Information
What tax year are you asking about? 2021
Your Income
Was the distribution from an inherited retirement account? No
Distributing Account Information
What type of retirement account did the distribution come from?

Roth IRA
Was the transfer made or distribution received from the retirement account on or before December 31, 2021? Yes
A distribution may be made from all of an individual’s eligible retirement plans for the birth or adoption of their child. These distributions are limited to a total of $5,000 for each birth or adoption.

Are you asking about the repayment of a distribution taken within one year of the date on which your child was born or the adoption of your child became final? No
Are you asking about the repayment of a qualified coronavirus-related distribution? No
Was the distribution moved in a direct transfer from one account to the other? Yes
Time Limit and Waiting Period Information
Was the amount rolled over the result of an improper Internal Revenue Service levy? No
Receiving Account Information
What type of retirement account was the distribution moved to? Roth IRA
Disaster Distributions
Repayments of a distribution may be allowed when your main home was in certain Presidentially declared disaster areas or if you received a distribution to purchase or construct a main home that was not purchased or constructed because of the disaster.

Are you asking about the repayment of a disaster distribution? No