Skip to content
Comply Exchange Logo Light Version

DRAFT 2022 Instructions for Forms 1099-R and 5498!

DRAFT 2022 Instructions for Forms 1099-R and 5498!

On November 1, 2021, the IRS published DRAFT 2022 Instructions for Forms 1099-R and 5498, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. One key update is that as of January 1, 2022, payments made from qualified plans to state unclaimed property funds must be reported on Form 1099-R. Rev. Rul. 2020-24 clarified the federal income tax withholding and reporting obligations that apply for the year that a qualified plan makes a payment to a state unclaimed property fund.

Check out the DRAFT 2022 Instructions for Forms 1099-R and 5498 here: https://www.irs.gov/pub/irs-dft/i1099r–dft.pdf

Make sure to follow Comply Exchange for more industry updates and subscribe to the Comply Catch-up for a full industry round-up at the end of each month!

DRAFT 2022 Instructions for Forms 1099-R and 5498!

This document contains general information only and is not a substitute for accounting, tax, or any other professional advice or services. The information provided is considered accurate at the time of publishing and will not be updated with new regulation requirements.

You might also enjoy

Join our mailing list!

Join our mailing list!