Opps! 1099-R eFiled with wrong payee information

[Yardley CPA]

As I was reviewing this years completed tax return for a client, I noted that the pension information that was efiled last year was transmitted with the wrong payee information.  All of the financial information was reported correctly but it was transmitted using a different payee.  There must of been an old 1099-R input screen that I inadvertently input the information on with the incorrect Payee and TIN.  Is there a way to rectify this?

[Pacun]

You don't need to do anything. I think the IRS check amounts before it checks from who. If the amounts reported match with what the IRS has on record, no letter is received.  

[BobbyCPA]

On 3/25/2021 at 3:07 PM, Yardley CPA said:

As I was reviewing this years completed tax return for a client, I noted that the pension information that was efiled last year was transmitted with the wrong payee information.  All of the financial information was reported correctly but it was transmitted using a different payee.  There must of been an old 1099-R input screen that I inadvertently input the information on with the incorrect Payee and TIN.  Is there a way to rectify this?

That happened to me 2 or 3 times in the past with the submission of an incorrect payer ID # but those clients never received a notice.

[Abby Normal]

You mean payer info. Payee is your client. Yes, the IRS only validates that it's a valid EIN for efiling. And as long as the total 1099R income equals what the IRS has, their computer won't kick it out.