1099-R code for Loan

[pmacduff]

I have a terminated participant in a Plan who rolled both her plan balance and her loan balance to her new Employer's Plan. (Yes, her new Employer's plan accepts loan balance rollovers and ok'd the transaction). For 1099-R reporting purposes, would you simply prepare a 1099-R form with code "G" for her entire balance including the loan? It seems unnecessary to prepare 2 1099-R forms when both would be coded "G". I looked in the 1099-R 2003 instructions, but it only says that a loan balance could be an eligible rollover, not how to code it.

[JanetM]

The cash and loan are both assets. Since the participant rolled "all" assets into new plan just use the G code. No need to prepare two 1099's.