Have a client with an OPM 1099-R for 2020 and they want to use a 8915-E to defer...looking at the eligible plans they include:
• A qualified pension, profit-sharing, or stock bonus plan (including a 401(k) plan).
• A qualified annuity plan.
• A tax-sheltered annuity contract.
• A governmental section 457 deferred compensation plan.
• A traditional, SEP, SIMPLE, or Roth IRA.
Anyone else seen this? Is a OPM pension a qualified pension or annuity plan? My guess based on the other types of accounts would be no...but any friendly advice is appreciated.
Remember, they want to use a 8915-E to defer. In order to defer there must be a COVID related incident. See CARES Act information. Client taking normal OPM monies does not automatically qualify for deferral. Document, document and if you forget - document. You don't want this to bite you in the a-s a few years from now.