Pension Digest Alert
IRS Releases the 2009 Form 1099-R and Form 5498
February 13, 2009

CWF’s Comprehensive Reporting Seminars and Webinars Come At Just the Right Time.

At long last, the 2009 forms are here, and there are many changes! The reporting changes are the most extensive in 10 years!

Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts,etc.

The use of some distribution codes are changed for 2009.

Certain Corrective distributions for excess contributions are reported differently, EVEN FOR CORRECTIONS OF 2008 CONTRIBUTIONS !

2009 instructions contain further clarifications for the changes put into effect by the legislation passed in late 2008.

Form 5498, IRA Contribution Information

As anticipated by the draft copy of the form in the fall of 2008, big changes are in store in 2009. Form 5498 is completely reformatted for 2009.

In addition, the IRA custodian/trustee has more duties to verify certain IRA rollovers.

2009 instructions contain further clarifications for the changes put into effect by the legislation passed in late 2008.

NEW and SPECIAL reporting for:

• Certain delayed contributions due to Federal Disaster Relief
• Qualified Settlement Income contributed to Roth IRAs
• Certain qualified Airline Payment Amounts contributed to Roth IRAs
• IRA contributions for the US Armed Forces in designated combat zones
• Repayment of Qualified Reservist Distributions
• Military Death Gratuities contributed to Coverdell ESAs or Roth IRAs
• New way to comply with the 2010 RMD Notice procedures (Yes, the procedure isback for 2010!)
• Postponed contributions and repayments ofcertain other contributions

All this and more can be found in all of CWF’s Comprehensive Reporting Seminars and Webinars. And remember, these changes affect the transactions that are being made right now, IN 2009! There’s no time to wait.

For a complete Seminar and Webinar schedule and registration information please go to www.pension-specialists.com, or call our Customer Service Department at 1-800-346-3961.