bzorc Posted January 19, 2023 Share Posted January 19, 2023 Profit Sharing plan took the balance of an unlocatable participant and transferred it to a Default IRA. Question is does the plan have to prepare a 2022 Form 1099-R for this participant, knowing that the form will never been received by the person? Thanks for any replies. Link to comment Share on other sites More sharing options...
Belgarath Posted January 19, 2023 Share Posted January 19, 2023 Yes, because it is reportable, and the IRS needs to get their information. Lou S. and Bill Presson 2 Link to comment Share on other sites More sharing options...
Peter Gulia Posted January 19, 2023 Share Posted January 19, 2023 Does the default IRA’s custodian have a name, taxpayer identification number, and address to which the custodian sends the custodian’s IRA account statements and tax-information reports? Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com Link to comment Share on other sites More sharing options...
bzorc Posted January 19, 2023 Author Share Posted January 19, 2023 Peter, don't know the answer to that. I'll contact them. We did a lost employee search last year, sent a form there, and it came back unclaimed. Think I'll just use that address. Link to comment Share on other sites More sharing options...
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