Permalink Submitted by Alan Spross on Fri, 2010-01-29 05:13
Al,
This is normal and these are final unless a change results either by contributions for the prior year, certain recharacterizations, conversions or rollovers that would change the data on the form. The final form is due around 6/1 if the earlier version must be amended.
Permalink Submitted by Jose Morales on Fri, 2010-01-29 18:54
We decided to send a substitute 5498 combined with our annual statement for customer service reasons many years ago. Every year the amount of effort to explain to clients that they would not be receiving a 5498 until May, and the subsequent rage and demands that one be printed for them immediately, was just overbearing. So we combine the 5498 and annual statement, and send an updated 5498 in May if there is any reportable activity in the retirement plan between January 1st and the tax filing deadline. It has the added benefit of being more environmentally friendly as well, with less paper being used to print both an annual statement and a 5498.
Permalink Submitted by Alan Spross on Fri, 2010-01-29 05:13
Al,
This is normal and these are final unless a change results either by contributions for the prior year, certain recharacterizations, conversions or rollovers that would change the data on the form. The final form is due around 6/1 if the earlier version must be amended.
Permalink Submitted by Jose Morales on Fri, 2010-01-29 18:54
We decided to send a substitute 5498 combined with our annual statement for customer service reasons many years ago. Every year the amount of effort to explain to clients that they would not be receiving a 5498 until May, and the subsequent rage and demands that one be printed for them immediately, was just overbearing. So we combine the 5498 and annual statement, and send an updated 5498 in May if there is any reportable activity in the retirement plan between January 1st and the tax filing deadline. It has the added benefit of being more environmentally friendly as well, with less paper being used to print both an annual statement and a 5498.