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#1143932 - 03/12/09 01:20 PM Tax Reporting for BOLI
GoPirates Offline
Member
Joined: May 2006
Posts: 59
Not sure if this is the appropriate group to post this question.

Is there a tax reporting requirement for former employees that were covered under BOLI (Bank Owned Life Insurance). When would we report on a 1099-MISC? The former employee is still living.

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#1143947 - 03/12/09 01:28 PM Re: Tax Reporting for BOLI GoPirates
Ready to Retire Offline
Diamond Poster
Joined: Aug 2005
Posts: 2,313
Living in the land of Oz
Our employees covered by our BOLI get a 1099-R. This if for all employees, retired and still working. I don't know much about BOLI's and I am sure every one is different, but that is what we give.

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