IRS Has Issued Instructions for the 2013 Form 1099-R IRS Has Issued Instructions for the 2013 Form 1099-R

IRS Has Issued Instructions for the 2013 Form 1099-R

The Internal Revenue Service has released the 2013 Instructions for Forms 1099-R and 5498, and the 2013 Form 1099-R. A new item in the 2013 Instructions provides that all filers of Forms 1099-R and 5498 may truncate a recipient's identification number (social security number (SSN), individual taxpayer identification number (ITIN), or adoption taxpayer identification number (ATIN)) on payee statements in accordance with proposed regulations. In recent years, the IRS has allowed for the truncation of identification numbers by issuing Notices. The fact that truncation of such numbers is now part of proposed regulations may be an indication that at some future point this will be a permanent allowance.

View our Nov. 2, 2012 bulletin on The Importance of Proper Coding for Form 1099-R which provides information about common reporting and coding fact scenarios and errors that may occur with respect to Form 1099-R.
For additional information about the instructions for the 2013 Form 1099-R, or additional information about Form 1099-R reporting, please contact Mary Beth BraitmanRobert GaussLisa Erb Harrison or any member of Ice Miller's Employee Benefits Group.
This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.
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