Pension Digest Alert
2010 Form 1099-R/5498 Instructions Issued February 13th
February 15, 2010

The general approach of the IRS is to issue together a tax form and its instructions. Saturday is not a day the IRS generally releases new tax forms and/or new instructions, but on February 13th the IRS issued the 2010 instructions for the 2010 Forms 1099-R and 5498. As of February 15th at 4:00 cst, the IRS has not yet issued the actual forms.

The 2010 instructions indicated the IRS has changed its mind again with respect to completing the Form 1099-R. For 2010, the old approach (pre-2009) of generally completing boxes 1 and 2a with the same amount will again be the rule. The 2009 method of generally leaving box 2a blank is being scrapped.

We will update this Alert once the IRS issues the actual forms.

As of February 15, the IRS has not issued its promised guidance regarding special relief with respect to the 2009 Form 1099-R. It appears this may take awhile.

Please call our consulting department as (800) 346-3961 if you have any questions.