July 16, 1991
TO: PENSION MEMBERS NO. 27-91
RE: IRS SIMPLIFIES DESERT STORM IRA REPORTING
__________________________________________________________
As we previously informed you, the procedures for reporting
1990 IRA contributions received after April 15, 1991 for Desert
Storm participants were reported in IRS Notice 91-17. (See
Institute Memorandum to Pension Members No. 20-91, dated May 30,
1991.)
The IRS recently announced that IRA contributions made by
Desert Storm participants for 1990 between April 15, 1991 and
December 31, 1991 may also be reported as corrections on an
amended 1990 Form 5498 filing. Notice 91-17 indicated that a
separate magnetic or electronic media filing would be required
for reporting Desert Storm contributions.
A copy of Announcement 91-102 is attached. We will keep
you informed of developments.
W. Richard Mason
Assistant Counsel - Pension
Attachment