To run the Federal 1099R Magnetic report:Run the Federal 1099R Magnetic report from the Submit Request window.
Note: You must successfully run the Year End Pre-Processor for each Retiree GRE in your enterprise prior to running the Federal 1099R Magnetic report. If the Year-End Pre-Processor is not run for each Retiree GRE, you will receive a warning message. This warning must be checked and corrected. If the Year End Pre-Processor has not been run for a GRE containing retirees who have retirement distributions for the current reporting year, the magnetic report will be incomplete.
To resolve a potential mismatch in B and K record state and federal amount totals, you may set the 'HR:1099R: Match B Rec Totals with K Rec' profile option. By setting this profile option to 'Yes', the amounts displayed in the K record will match with the corresponding total amounts of the B records for the applicable state. For more information, see: Defining 1099-R Reporting Rules.
To run the Federal 1099R Magnetic report:When preparing to run this report, you may need to consider those employees who have changed their primary residence within the past year:
If your DateTracked session date is the last day of the year or earlier, this report uses the employee's primary address listed as of the last day of the year.
If your session date is greater than the last day of the year, this report uses the employee's primary residence as of your session date.
In the Name field, select Federal 1099R Magnetic report from the list. If the Parameters window does not open, click in the Parameters field.
In the Parameters window, enter the tax year for the report in the Year field.
In the Transmitter field, select the name of the GRE that functions as the transmitter of this 1099-R report.
Select Yes or No in the All Payers field.
The All Payers field indicates whether to include all retirement GREs defined with the same TCC as the chosen transmitter in the magnetic report.
Indicate in the Final Filing field if this report is the final electronic file you are submitting.
If you are generating a file for testing purposes only, select Yes in the Test Tape field.
Select the appropriate file type in the File Type field.
Use the File Type field to specify if the output file should be an Original or Replacement File. If you select Replacement File, use the Replacement File AlphaChar field to give a letter designation to the file.
Select Yes or No in the Fold Output parameter field. If you select Yes, then the output flat files (.mf) are folded as per the necessary specifications. The appropriate line feeds or carriage returns are added to the magnetic file (mf) output without any manual intervention being required. If 'No' (default option) is selected, then the process will not fold the output file and all the records in magnetic file are generated in one continuous line.
Click OK and then Submit.
When the report is complete, the application generates the files for the magnetic media. You view the processing status of the report from the View Requests window.