April 8, 1994
TO: OPERATIONS MEMBERS NO. 11-94
PENSION MEMBERS NO. 9-94
TRANSFER AGENT ADVISORY COMMITTEE NO. 13-94
RE: 1994 IRS FORM 1099-R AND INSTRUCTIONS
__________________________________________________________
Attached is a copy of the 1994 Internal Revenue Service Form
1099-R, Distributions from Pensions, Annuities, Retirement or
Profit-Sharing Plans, IRAs, Insurance Contracts, etc., along with
the instructions thereto. The revised form allows payors to
report taxes withheld for two states or localities. The revised
instructions contain an expanded discussion of the tax
consequences of plan loans and the new deposit rules for
nonpayroll withholding. (See Institute Memorandum to Operations
Members No. 1-94, Pension Members No. 1-94, Tax Members No. 3-94,
and Transfer Agent Advisory Committee No. 2-94, dated
January 19, 1994.)
Also attached is a copy of IRS Announcement 94-46, which
clarifies a sentence on page 24 of the instructions concerning
Form 1099-R. We will keep you informed of developments.
Kathy D. Ireland
Associate Counsel - Pension
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