November 22, 1989
TO: OPERATIONS MEMBERS NO. 34-89
PENSION MEMBERS NO. 50-89
TRANSFER AGENT ADVISORY COMMITTEE NO. 30-89
RE: IRS REVISIONS TO FORMS W-2P AND 1099-R FOR 1990
__________________________________________________________
Attached is a copy of IRS Announcement 89-151, which
describes revisions to Forms W-2P and 1099-R for 1990.
A new IRA/SEP checkbox will be used to indicate that the
reported distribution was made from an IRA or from a SEP.
Several changes will be made to the distribution codes, including
the elimination of the code for rollovers and the addition of a
code to indicate the tax-free exchange of insurance contracts
under section 1035. In addition, a numeric distribution code
will be required for all distributions, including normal
distributions.
We will keep you informed of further developments.
Kathy D. Ireland
Associate General Counsel
Attachment