February 2, 1993
TO: PENSION MEMBERS NO. 11-93
OPERATIONS MEMBERS NO. 11-93
TRANSFER AGENT ADVISORY COMMITTEE NO. 12-93
RE: 1993 INSTRUCTIONS FOR IRS FORMS 1099-R AND 5498
__________________________________________________________
Attached is a copy of the 1993 Instructions for IRS Forms
1099-R, Distributions From Pensions, Annuities, Retirement or
Profit-Sharing Plans, IRAs, Insurance Contracts, etc., and 5498,
Individual Retirement Arrangement Information, which prescribe
the reporting of direct rollovers from qualified plans and
section 403(b) arrangements under the Unemployment Compensation
Amendments of 1992.
The instructions for Form 1099-R include a description of
the reporting of direct rollovers and new distribution codes G
and H. The instructions also explain that separate Forms 1099-R
are necessary if part of an eligible rollover distribution is
directly rolled over and part is received by the participant. In
addition, the instructions contain expanded and revised
discussions of tax-free exchanges under section 1035 of the Code,
and the required notice under section 402(f) of the Code.
The 1993 instructions for Form 5498 note that receipt of a
direct rollover must be reported in box 2, but receipt of a
trustee-to-trustee transfer from another IRA is not reported.
We will keep you informed of further developments.
Kathy D. Ireland
Associate Counsel - Pension
Attachment