March 20, 1989
TO: OPERATIONS MEMBERS NO. 12-89
PENSION MEMBERS NO. 19-89
TAX MEMBERS NO. 11-89
TRANSFER AGENT SHAREHOLDER ADVISORY COMMITTEE NO. 6-89
RE: 1989 INSTRUCTIONS FOR IRS FORMS 1099, 1098, 5498, 1096,
AND W-2G
__________________________________________________________
Attached is a copy of the 1989 Instructions for IRS Forms
1099, 1098, 5498, and W-2G.
The instructions to Form 1099-DIV note that a new box for
reporting ordinary dividends has been added to assist individual
dividend recipients who do not file Schedule B to Form 1040. In
addition, the discussion of the box for investment expenses now
limits the reporting to such expenses incurred by a nonpublicly
offered regulated investment company.
With respect to Form 1099-R, the instructions highlight the
changes to the distribution codes to conform to the Technical and
Miscellaneous Revenue Act of 1988. In addition, the instructions
contain a new section concerning the reporting requirements in
the case of a failure of the actual deferral percentage test
after a total distribution. The instructions also change the
reporting of death benefit payments from Box 8 to Box 1 and
explain the reporting of losses.
The only significant change to the instructions to Form
5498 is clarification of the interaction of Form 5498 and the
separate statement of fair market value.
We will keep you informed of further developments.
Kathy D. Ireland
Assistant General Counsel
Attachment