Treasurer's Office Reissues 1099-R Forms to Resolve Printing Error
MONTPELIER, Vt.—The Vermont State Treasurer’s Office is reissuing 1099-R forms to a groups of retirees who recently received forms which contained information printed incorrectly in the wrong boxes. A letter alerting the retirement system members to the error was mailed today.
The reissuance impacts approximately 8,700 members, representing retirees, those receiving survivor benefits, and those receiving a refund on their account. The retirement accounts are from the Vermont State Employee’s, Vermont State Teachers’, and Vermont Municipal Employee’s Retirement Systems. The forms were mailed on or before January 30. The 2011 Internal Revenue Service Form 1099-R is the tax statement for retirees that is generated and distributed by the retirement division each January.
“It was discovered, after the forms were mailed, that information was incorrectly mapped to the wrong box for retirees who had paid state taxes in 2011,” said State Treasurer Beth Pearce. “On the same day the printing error was recognized, we worked to immediately identify those retirees who were impacted. Today, we sent those retiree a letter alerting them to the error and letting them know that a corrected 1099-R form is going into the mail this week.”
The letter advises retirees to use the corrected 1099-R form when doing their 2011 taxes and to discard the first form they received. The printing error only impacted a portion of the more than 17,000 1099-R forms printed and distributed to retirees by the retirement division each January. Unless retirees receive a letter advising them that a corrected form is being sent to them, they should use the 1099-R form they received in the mail from the Treasurer’s Office to prepare their 2011 taxes.
The errors involved placement of the information in the wrong box on the form. The dollar amount shown in box 10 should instead have been printed in box 12. The number shown in box 12 should instead have appeared in box 13. While all of the printed numbers were correct, in these instances, they were printed in the wrong box.
“My thanks to the retirees for patiently waiting for their reissued 1099-R forms. We are very sorry for any inconvenience this error has caused them,” said Pearce.
Anyone with questions regarding the 1099-R form sent by the Treasurer’s Office may contact the retirement division by calling (802) 828-2305 or toll-free-in-Vermont at 1 (800) 642-3191.