New information reporting requirements are proposed to apply to certain IRA investments with no readily available fair market value. Reportable investments may include: non-publicly traded stock, partnership or LLC interests, real estate, options, and other hard-to-value investments. This will affect issuers of: Form 5498 PDF, IRA Contribution Information, and Form 1099-R PDF, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. To give financial institutions reasonable time to fully implement the new requirements, the additional reporting for hard-to-value IRA investments will be optional for 2014. The new reporting requirements will be described in the 2014 Instructions for Forms 1099-R and 5498, which are expected to be issued around the end of the year.
