8915-E and Fed 1099-R

[jw-rogers]

Have a client with an OPM 1099-R for 2020 and they want to use a 8915-E to defer...looking at the eligible plans they include:

• A qualified pension, profit-sharing, or stock bonus plan (including a 401(k) plan).
• A qualified annuity plan.
• A tax-sheltered annuity contract.
• A governmental section 457 deferred compensation plan.
• A traditional, SEP, SIMPLE, or Roth IRA.

Anyone else seen this? Is a OPM pension a qualified pension or annuity plan? My guess based on the other types of accounts would be no...but any friendly advice is appreciated.

[Just-Lisa-Now-]

https://www.opm.gov/faqs/QA.aspx?fid=735eda40-61a8-45df-b6ad-47185f4c91a5&pid=dcdd4c76-cea6-4e81-89e...

[dascpa]

Remember, they want to use a 8915-E to defer.  In order to defer there must be a COVID related incident.  See CARES Act information.  Client taking normal OPM monies does not automatically qualify for deferral.  Document, document and if you forget - document. You don't want this to bite you in the a-s a few years from now.

[jw-rogers]

Concur and will be all over the 8915-E instructions with full documentation.