The new IRS Form 5498 and 1099-R requirements are a way for the IRS to make sure that that IRA holders are properly valuing their IRAs and paying their fair share of tax based on fair market valuations of the alternative assets owned by the IRA Due to the increase in popularity of the self-directed IRA structures, the IRS is looking to gain more information on the types of investments being made by IRAs in order to make sure that these IRA accounts are being properly valued when it comes to taking required minimum distributions or doing Roth conversions. In 2015, the IRS has modified IRS forms 5498 & 1099-R in order to get a better handle on the type of assets the IRA holds so it can better evaluate IRA account values.
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