Part IV. Items — Internal Revenue Bulletin 2004-2

Announcement 2004–3

Correction to Publication 1220, Specifi- cations for Filing Forms 1098, 1099, 5498 and W–2G Electronically or Magnetically

Changes issued in December 2003 by Chief Counsel will impact the filing of

Form 1099–R. These changes affect the Payee “B” Record, Distribution Code, positions 545 - 546. The descriptions for Code J, Q, and T, shown in the Publication 1220, have changed. If you have issued a Form 1099–R or (applicable substitute) for 2003 for a Roth IRA distribution, you may

have to issue a corrected return based on the changes in the chart below.

Distribution Codes	Explanations	*Used with code (if applicable)
J — Early distribution from a Roth IRA.	Use Code J for a distribution from a Roth IRA when Code Q and Code T do not apply.	5, 8, or P
Q — Qualified distribution from a Roth IRA	Use Code Q for a distribution from a Roth IRA if you know that the participant meets the 5-year holding period and: • The participant has reached age 591/2, or • The participant died, or • The participant is disabled. Note: If any other codes, such as 5, 8, or P apply, use Code J.	None
T — Roth IRA distribution, exception applies.	Use Code T for a distribution from a Roth IRA if you do not know if the 5-year holding period has been met but: • The participant has reached age 591/2, or • The participant died, or • The participant is disabled. Note: If any other codes, such as 5, 8, or P apply, use Code J.	None

Also, for Codes 5, 8, and P, delete any reference to Codes T and/or Q shown in

the Form 1099–R Distribution Code Chart The above changes will appear in the 2003. 2004 revision of Publication 1220.

January 12, 2004 294 2004-2 I.R.B.