2009 1099R Tax Form Instructions and 2009 5498 Tax Form Instructions
The attached PDF file contains the IRS instructions for filing form 2009 1099R and 2009 5498
Form 1099-R Reporting IRA distributions.
Generally, box 2a should be left blank when reporting distributions from traditional or SEP
IRAs, unless otherwise instructed later in these instructions. Box 2b,“Taxable amount not determined” should be checked.
Corrective distributions. For plan years beginning after 2007, excess contributions and excess aggregate contributions plus earnings are taxable in the year distributed (except for designated Roth contributions). See Excess contributions and Excess aggregate contributions on page 5.
Distributions to beneficiaries. Distributions from a nonqualified deferred compensation (NQDC) plan to an estate or beneficiary of a deceased plan participant are no longer reported on Form 1099-R. They should be reported on Form 1099-MISC.
Qualified charitable distributions. Qualified distributions from IRAs for charitable purposes may be made through December 31, 2009.
Distributions from an Employee Stock Ownership Plan (ESOP). Distributions of dividends from an ESOP under section 404(k) to participants or their beneficiaries are to be reported on Form 1099-R. All other distributions from an ESOP must be reported on a separate Form 1099-R.
Partial exchanges of annuity contracts. Rev. Proc. 2008-24 was issued to address the tax treatment of certain tax-free exchanges of annuity contracts under sections 72 and 1035. The interim guidance provided by Notice 2003-51 is superseded.
Guide to Distribution Codes. The following changes were made to the Guide to Distribution Codes. • For Distribution Code 1, on page 11, references to the qualified reservist distribution under section 72(t)(2)(G) have been made permanent.
• New Distribution Code U, for distributions under IRC 404(k), was added to the table that begins on page 11. • Distribution Codes B and U are a valid combination.
Form 5498 Reformatted form.
Form 5498 has been enlarged and reformatted to two to a page instead of three to a page to
This information was obtained from the IRS Website. E-File Magic does not warrant the accuracy of this information and provides this information as a convenience to its users. This information is subject to change without notice. You are encouraged to check the IRS website at http://www.irs.gov for the most recent and accurate copy of this information.