Aspect Ratio confusion, 1080 x 1620? What am I doing wrong?

So... I'm working on a film that was originally shot in HD 720 from 2010, on a Panasonic HVX200 with a Red Rock adapter. However, the original AVID project file was lost so I am recovering the film from an export that was used for a DVD release. I created a sequence in Premiere from the film file. 
When I export a test at 1080 the file says it's size is 1620 x 1080. And a test from match source says it's 480 x 720. The sequence settings say 480 x 720. 
The client said I should put black bars on the sides so that the film could be exported in true 1080 x 1920, however, the picture looks like it's 16:9 already. 

I imported a 1080 x 1920 clip from another project and the difference on the width is very minimal. 

But maybe that's all the difference 300 pixels make. 
I have made a few needed edits to the film but now realizing I need to make this change. 
Should I create a 1080 x 1920 sequence and copy and past what is in my curren 480 sequence to the new sequence? Thanks.