Instructions for Forms 1099-R and 5498 - Introductory Material

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Future Developments

For the latest information about developments related to Form 1099-R and 5498 and their instructions, such as legislation enacted after they were published, go to www.irs,gov/form1099r or www.irs.gov/form5498.

What's New

Truncating recipient's identification number on paper payee statements.   Pursuant to proposed regulations §§ 1.6042-4(b) and 301.6109-4 (REG-148873-09), 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. See part M in the 2013 General Instructions for Certain Information Returns.

New distribution code.   Use Distribution Code D to identify nonqualified annuity payments and distributions from life insurance contracts that may be subject to tax under section 1411. See Guide to Distribution Codes, later.

Airline payment amount.   Certain airline payment amounts may be contributed or rolled over to traditional and Roth IRAs, subject to limitations. See Airline payment amount, later.

Reminder

In addition, see the 2013 General Instructions for Certain Information Returns for information on the following topics.

  • Backup withholding.

  • Electronic reporting requirements.

  • Penalties.

  • Who must file (nominee/middleman).

  • When and where to file.

  • Taxpayer identification numbers.

  • Statements to recipients.

  • Corrected and void returns.

  • Other general topics.

You can get the general instructions at www.irs.gov/form1099r or www.irs.gov/form5498 or call 1-800-TAX-FORM (1-800-829-3676).

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