What Tax Forms Should You File to Report a Non-Qualified Annuity?


Quick Answer

Use the 1099-R form to file and report a non-qualified annuity, according to John Hancock Annuities. The 1099-R form will report the federal income tax withheld from the previous year's distributions, the gross distributions and taxable amount. The 1099-R form is not required if there were no distributions made.

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Full Answer

If the 1099-R form is not received from the plan custodian by February 10, contact the IRS, advises John Hancock Annuities. Report the distributions to employees with non-qualified deferred compensation plans on the W-2 and not with a 1099-R form, notes the IRS. Use the 1099-R for non-employee distributions. Those participating in a beneficiaries of deceased plan must use form 1099-MISC. The IRS will calculate the taxable part of annuities for those who send a letter of request, their 1099-R form, completed tax information sheet, and any corresponding documents that show distributions, annuity rates and annuity options.

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