June 18, 1990
TO: PENSION MEMBERS NO. 28-90
OPERATIONS MEMBERS NO. 16-90
TRANSFER AGENT ADVISORY COMMITTEE NO. 16-90
RE: IRS COMBINES FORMS 1099-R AND W-2P FOR 1991
__________________________________________________________
Last July, the IRS announced a proposal to combine Forms
1099-R and W-2P for tax year 1991. (See Institute Memorandum to
Pension Members No. 38-89, Operations Members No. 26-89 and
Transfer Agent Advisory Committee No. 21-89, dated August 7,
1989.)
The IRS announced today that Form W-2P will be combined
with Form 1099-R and will be designated Form 1099-R beginning
with the 1991 form which will be filed in 1992. A copy of IRS
Announcement 90-79, including a draft of the new form, is
attached.
The draft Form 1099-R differs from the form proposed last
year in several respects. Checkboxes were added in Box 2b to
indicate "Taxable amount not determined" and to designate a
"Total distribution." Boxes were added to report local income
tax information and any additional information the payer desires
to include. Finally, Announcement 90-79 provides that the
recipient of the new Form 1099-R will be required to attach it to
his or her Federal income tax return if the payer shows Federal
income tax withholding.
The draft Form 1099-R is subject to review and approval by
the Office of Management and Budget. We will keep you informed
of further developments.
W. Richard Mason
Assistant General Counsel
Attachment