For example, the provision does not appear to apply to a Form 1099-R
or 5498 issued for traditional, Roth and Education IRAs or to Medical Savings Accounts.
Death benefits and distributions from both qualified and nonqualified plans, including gratuitous post-death salary continuation payments, are reported on Form 1099-R.
Distributions from both qualified and nonqualified plans are reported on Form 1099-R, with distribution code "4" (indicating that the amount is paid to a decedent's beneficiary).
6721-6724 attributable to the late or incorrect reporting of amounts have been extended to include Form 1099-R
It is anticipated that new coding will be added to Form 1099-R
to identify directed rollovers.
In addition, Form 1099-R
, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.