Forms 1099R

[Gary]

Do many of you prepare Forms 1099R for your small plan clients?

I am faced with about 100 clients in such a situation.

Thanks.

[SheilaD]

Do many of you prepare Forms 1099R for your small plan clients?

I am faced with about 100 clients in such a situation.

Thanks.

We prepare 1099R's for most of our clients. For balance forward and DB plans the charge is incorporated into the fee for the distribution package. For PS58's and other situations we bill based on the situation and the time needed. Are you looking to farm out the 1099's or are you trying to decide if it's reasonable to prepare them in house? A couple of the software firms (relius, datair) will also do them for your clients.

Hope this helps

[WDIK]

Do many of you prepare Forms 1099R for your small plan clients?

Our firm offers that service to those clients who so desire, but from my perspective, it is one of the least enjoyable.

[tymesup]

We do them. For the small clients, it's a dog. If they aren't done, though, it's an even bigger dog.

[AndyH]

We do them. For the small clients, it's a dog. If they aren't done, though, it's an even bigger dog.

So, your dog does bite.

[Effen]

Generally, we don't do them. We tell them that their accountants can do them cheaper and more effeciently than we can. This seems to work without any further discussions about 98% of the time. (Then again, we don't consider ourself to be a "tpa" either.)

[Andy the Actuary]

I subcontract 1099Rs as needed. Still, the entire process of instructions and review assume far more hours that I can bill for.

[AndyH]

Generally, we don't do them. We tell them that their accountants can do them cheaper and more effeciently than we can. This seems to work without any further discussions about 98% of the time. (Then again, we don't consider ourself to be a "tpa" either.)

So, it bites, but it's not your dog, is that about it?

[Effen]

You could say that we choose not to buy that dog. We have plenty of our own dogs that bite just as much.