Instructions For Forms 1099-R And 5498 - Distributions From Pensions, Annuities, Retirement Or Profit-Sharing Plans, Iras, Insurance Contracts, Etc. And Ira Contribution Information - 2016 Page 21
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24military death gratuities and SGLI payments may
Serving, or has served in a qualifying hazardous duty
contribute amounts received to a Roth IRA, up to the
are; or
amount of the gratuity or SGLI payment less any amounts
Serving, or has served in an active direct support area.
contributed to Coverdell ESAs. Report the amount of the
If a qualifying participant designates an IRA
rollover contribution in box 2 only. See section 408A(e)(2),
contribution for a prior year, other than an IRA contribution
and Notice 2010-15, 2010-06 I.R.B. 390, available at
made by April 15 for the preceding year, you must report
, for more
the type of IRA (box 7) and the amount on Form 5498.
information on limitations.
Report the amount either for (1) the year for which the
Electronic filers. You may request an automatic
contribution was made or (2) a subsequent year. See
waiver from filing Forms 5498 for combat zone
boxes 13a, 13b, and 13c, later.
participants by submitting Form 8508, Request for Waiver
1. If you report a contribution for 2016 made before
From Filing Information Returns Electronically. Once you
April 18, 2017, no special reporting is required. Include
have received the waiver, you may report all Forms 5498
the contribution in box 1 or box 10 of an original Form
for combat zone participants on paper. Alternatively, you
5498 or of a corrected Form 5498 if an original was
may report contributions made by the normal contribution
previously filed.
due date electronically and report the contributions made
2. If you report the contribution on Form 5498 in a
after the normal contribution due date on paper. You may
subsequent year, you must include the year for which the
also report prior year contributions by combat zone
contribution was made, the amount of the contribution,
participants on a corrected Form 5498 electronically or on
and one of the following indicators.
paper.
a. Use “EO13239” for Afghanistan and those countries
See part F in the 2016 General Instructions for Certain
in direct support, including Djibouti, Jordan, Kyrgyzstan,
Information Returns for information on how to request a
Pakistan, Somalia, Syria, Tajikistan, Uzbekistan, Yemen,
waiver on Form 8508.
and the Philippines. For the Philippines only, personnel
Reporting FMV of certain specified assets. Assets
must be deployed in conjunction with Operation Enduring
held in an IRA that are not readily tradable on an
Freedom supporting military operations in the Afghanistan
established securities market or option exchange, or that
combat zone.
do not have a readily available FMV, must be reported at
b. Use “EO12744” for the Arabian Peninsula, including
the FMV determined as of December 31, 2016. See the
air space and adjacent waters (the Persian Gulf, the Red
instructions for boxes 15a and 15b, later.
Sea, the Gulf of Oman, the Gulf of Aden, the portion of the
Corrected Form 5498. If you file a Form 5498 with the
Arabian Sea that lies north of 10 degrees north latitude
IRS and later discover that there is an error on it, you must
and west of 68 degrees east longitude, and the total land
correct it as soon as possible. See part H in the 2016
areas of Iraq, Kuwait, Saudi Arabia, Oman, Bahrain,
General Instructions for Certain Information Returns, or
Qatar, the United Arab Emirates), and Jordan which is in
Pub. 1220, if filing electronically. For example, if you
direct support of the Arabian Peninsula.
reported contributions as rollover contributions in box 2,
c. Use “EO13119” or Public Law 106-21 “PL106-21”
and you later discover that part of the contribution was not
for the Federal Republic of Yugoslavia (Serbia and
eligible to be rolled over and was, therefore, a regular
Montenegro), Albania, Kosovo, the Adriatic Sea, and the
contribution that should have been reported in box 1
Ionian Sea north of the 39th parallel. (Note: the combat
(even if the amount exceeds the regular contribution limit),
zone designation for Montenegro and Kosovo (previously
you must file a corrected Form 5498.
a province within Serbia) under Executive Order 13119
remains in force even though Montenegro and Kosovo
Statements to participants. If you are required to file
became independent nations since EO 13119 was
Form 5498, you must provide a statement to the
signed.)
participant. By January 31, 2017, you must provide
participants with a statement of the December 31, 2016,
For additions to, or subtractions from, the list of
value of the participant's account and RMD, if applicable.
combat zones or qualified hazardous duty areas
!
Trustees of SIMPLE IRAs also must provide a statement
implemented by executive orders and public
of the account activity by January 31, 2017. Contribution
CAUTION
laws, and direct support areas designated by the
information for all other types of IRAs must be provided by
Secretary of Defense, after the publication date of these
May 31, 2017. You are not required to provide information
instructions, go to
to the IRS or to participants as to whether a contribution is
deductible or nondeductible. In addition, the participant is
Example. For a $4,000 IRA contribution designated by
not required to tell you whether a contribution is
a participant who served under EO 13239 for the tax year
deductible or nondeductible.
2013, enter “4000” in box 13a, “2013” in box 13b, and
“EO13239” in box 13c only. Make no entry in box 1 or
If you furnished a statement of the FMV of the account,
box 10.
and RMD if applicable, to the participant by January 31,
Repayment of qualified reservist distributions.
2017, and no reportable contributions, including rollovers,
Report any repayment of a qualified reservist distribution
recharacterizations, or Roth IRA conversions, were made
as described in section 72(t)(2)(G) in boxes 14a (amount)
for 2016, you need not furnish another statement (or Form
and 14b (with indicator code “QR”).
5498) to the participant to report zero contributions.
Military death gratuities and servicemembers'
However, you must file Form 5498 with the IRS by May
group life insurance (SGLI) payments. Recipients of
31, 2017, to report the December 31, 2016, FMV of the
-21-
Instructions for Forms 1099-R and 5498 (2016)
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