Form 1099-R is used to account for payments and distributions made from pensions, annuities, insurance contracts, IRAs and other retirement plans. Profit-sharing plans also fall under the purview of this form. It is important to know that this form has a low financial threshold for filing. Unlike other 1099 forms that do not become a requirement until the distribution hits a $600 threshold, any payments of $10 or more apply to a 1099-R form filing. Insurance contracts can be from any number of sources, including total disability payments and charitable gift annuities.
You can find basic instructions for the 1099-r form here. As with many types of 1099 forms, this is one of the areas of the tax code that can see changes from time to time. To check for the latest rules and developments, check the IRS website.
Software Support for the 1099-R Form
The vast majority of organizations and accounting professionals are aware of form 1099-R reporting requirements. If not, they’re able to quickly skim the IRS’s website to understand the rules. But when it comes to 1099-R form support, they’re not looking for a how-to guide. Instead, they’re looking a companion software solution with advanced data management technologies. They want a system that can combine their body of knowledge and diligent bookkeeping with the efficiency and scalability of modern software solutions.
If you’re one of these accounting professionals or financial brokers, Advanced Micro Solutions (AMS) has a great answer for your software needs. Our W-2/1099 Forms Filer is a foundational software platform that, for only, delivers essential data filing capabilities.
- Data Entry: Information can be entered through a spreadsheet or through a screen that resembles the actual form. These options offer data entry efficiency, while also reducing errors. You can import data from any number of common file types.
- Data Printing & Reporting: Reports include tables, worksheets, client letters, recipient lists, and mailing labels. Encrypted PDF files are used for security. SSN/TIN hash totals verify data accuracy. Easy form alignment and large-batch print jobs create automated, error-free printing. With the Software-Generated Forms module, you can print your own blank filing forms.
- More Features: Free network installation. Multiple PC installation (site license may apply). Payer backup and restore. Supports up to 1,999 payers/employers and up to 99,999 recipients per payer.
More than specific software features, our platform also offers a sophisticated module interaction that enables customers to build and implement a personalized software package. Many firms that handle retirement plans and similar financial products have filing needs beyond the 1099-R form, and we’re equipped to address that.
With our Support Knowledge Base and Contact Support, you’ll be able to quickly and reliably leverage this software package into a more efficient filing solution overall. Consider these potential add-on products when choosing your own AMS software solution:
The best way to see the ins and outs of how our software works is to download our free software demo. You’ll immediately recognize the value of the software’s intuitive, menu-driven performance. If you have lingering questions, you can contact our Sales and Information team at (800) 536-1099. From preparing and printing forms to e-filing services and payroll solutions, find better software filing support with AMS.