IRS Pension Distribution Reporting Changes For 2010

The IRS recently released the instructions for the 2010 Form 1099-R. The instructions clarify a number of important areas, including the new truncating social security number option and how to report 2010 Roth conversions that taxpayers may defer taxes on for 2010. Plan sponsors and administrators should review these changes and update distribution forms and procedures accordingly.

If you have any questions to be covered by an upcoming IRS Reporting Corner newsletter or wish to stay connected with various reporting and withholding updates related to employee benefits, click here.