May 13, 1991
TO: OPERATIONS COMMITTEE NO. 15-91
PENSION COMMITTEE NO. 12-91
RE: PROCEDURE FOR REPORTING DESERT STORM IRA CONTRIBUTIONS
__________________________________________________________
Attached is a draft letter to the Internal Revenue Service
regarding the method by which IRA contributions made after April
15, 1991 by Desert Storm military personnel must be reported to
the government. The letter recommends that the Service permit
IRA custodian/trustees to file amended 1990 returns or file
individual, manually prepared Forms 5498 to report such
contributions. The Service has informally indicated that 1990
Desert Storm IRA contributions should be reported on a separately
coded 1991 Form 5498.
If you have any comments regarding the attached letter,
please call me at 202/955-3516 as soon as possible. The
Institute intends to file the letter with the Service by
Thursday, May 16, 1991.
We will keep you informed of developments.
W. Richard Mason
Assistant Counsel - Pension
Attachment