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Iowa online Form Instruction 1099-R & 5498: What You Should Know

However, on or before March 27, 2007, the IRS revised the  account number requirement so that it is mandatory for IRA custodians to furnish account numbers on the IRA  Form 1099-R if the custodians are required to file a federal tax return, and they do not have a reasonable excuse,  or if there is credible information to indicate that the number is  not the custodian's own information.  Accordingly,  Account numbers, including account numbers from multiple custodians for an individual  account, must be furnished using a one-page form on Treasury Direct's Website, along with the applicable return  (see IRS Publication 523 ()) The account number must include both the name and the account number on the left side of the form. The name and the account number may be typed on the form on one line, or using the right box to indicate both names and accounts. CRS — IRA Custodian Oct 25, 2025 — CRS-IRIRA Custodian Form (IR-9) is used by IRA custodians to report each IRA distributed to the IRA owner within the calendar quarter reported. CRS-IRIRA Custodian Form is available by the IRA custodian and by an IRS designated agent. If you are a participant with an IRA, you must complete a Form 1099-RS on your IRA application. IRA custodians have a responsibility under § 401(a)(31) to withhold and remit required federal income tax from IRA distribution amounts to the IRS. The IRS may determine an amount from the custodian's IRA account. The custodian must notify the participant if they receive a report from the IRS under this provision. To avoid a late report of Federal income tax due, IRA custodians must furnish a copy of Form 1099-R to the participant after filing a corrected Form 1099-R within 3 months to the date that the participant is notified of the IRS notification. If the IRA custodian fails to furnish Form 1099-R within 3 months, the participant may request the issuance of a refund of the tax. After the 3rd month with which the participant requests a refund, the participant may not issue a request for a refund without first providing a written accounting of the non-filed income tax return to the custodian.

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