According to a DATAIR press release, the new offering allows clients of the DATAIR Pension Reporter government forms system to securely transmit 1099-R data in the system for payouts from benefit plans to the Service Bureau for further processing. The 1099-R Service Bureau will print and mail payee copies of the forms and will file the data electronically with the IRS and with the appropriate states.
In addition, the Service Bureau will prepare and email Payer Copy D in PDF format to the plan administrator and prepare and email State Copy 1 in PDF format to the plan administrator for states not participating in combined state/federal filing, the release said. The plan administrator will be notified of the status of filings with each step.
“This is a welcome option for our clients that are already overburdened by a myriad of tasks demanding their time during January,” said Gary Saake, Vice President/Systems of DATAIR, in the release. “In addition to saving them time, the service bureau will also save them money when the costs for supplies, printing, postage, and staff time are considered.”
The service is being offered for an introductory price of $1.25 per form for those who pre-register by November 30, 2006. The pre-registration form is available by visiting DATAIR’s Web site at www.datair.com and clicking on the banner ad at the top of the home page.