Internal Revenue Bulletin: 2011-2
January 10, 2011
Update to Publication 1220, Specification for Filing Forms 1097-BTC, 1098, 1099, 3921, 3922, 5498, 8935 and W-2G Electronically
Update to Publication 1220, Specifications for Filing Forms 1097-BTC, 1098, 1099, 3921, 3922, 5498, 8935 and W-2G Electronically. This update is due to changes in the reporting requirements for Form 1099-R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
The passage of the Small Business Jobs Act, Sections 2111 and 2112 affected Tax Year 2010 filing for Form 1099-R. Filers should follow guidelines located in Instructions for Forms 1099-R and 5498 for reporting requirements. Electronic filers who have a reporting requirement for in plan Roth rollovers, can report the amount in the Special Data Entries field, positions 663-722 of the Payee B Record. Payment amounts must contain U.S. dollars and cents. The right-most two positions represent cents. Amounts should be right-justified in the field with leading blanks. If you have questions concerning filing requirements or electronic filing through the FIRE System, please call toll-free 1-866-455-7438.
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