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8915-E and Fed 1099-R

jw-rogers
Level 3

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.

 

 

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3 Replies 3
Just-Lisa-Now-
Level 15
Level 15
dascpa
Level 8

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.

jw-rogers
Level 3

Concur and will be all over the 8915-E instructions with full documentation.

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