If you withdrew money from your annuity last year or requested a reportable transaction such as a rollover or 1035 exchange, you may have received a 1099-R form this year that reports your distribution and any applicable tax withholdings to the IRS.
To view your most recent 1099-R, just log in below or click register to set up your account online. Once you do, you’ll also have the option to sign up for paperless 1099-Rs going forward, which you can download at any time.
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When is a 1099-R issued?
We issue Form 1099-R for any reportable distribution or deemed distribution of $10 or more. A 1099-R may also be issued for certain taxable transfers of ownership. No 1099-R is issued for a non-taxable transfer of contract ownership to a spouse or to a former spouse incident to a divorce. However, please note that a distribution from an IRA or non-qualified annuity contract will be reported as income to the contract owner, even if the distribution is paid to the owner’s spouse or former spouse as part of a divorce settlement. If you would like to transfer the ownership of your annuity contract, please consult a tax professional regarding the tax implications of your specific circumstances.
How can I tell if I should receive a 1099-R form?
A qualified tax professional will be able to tell you which, if any, of your withdrawals in the previous tax year should be reported on a 1099-R form. Your withdrawal information is available on the Contract Details page of your online account.
Why didn't I get a 1099-R form?
A 1099-R is generally not required if there were no distributions from the contract during the previous tax year, or if only principal (tax cost basis) was withdrawn from the contract in the previous tax year.
Will I receive a 1099-R form for an IRA-to-IRA transfer?
No, there is no requirement to file a Form 1099-R to report a direct trustee-to-trustee transfer from one traditional IRA to another.
Why did I get two 1099-R forms?
If you moved to a new state last year and had state taxes withheld from your distributions in more than one state (before and after your move, for example), you may receive 2 different 1099’s that reflect the taxes reported to each individual state. It’s also possible to receive more than one 1099 in the same year if you requested more than one type of transaction in the same year, such as a withdrawal and a rollover of funds to a different carrier. Since these transactions have different distribution codes, they would be reported on two separate 1099’s.
This information is not intended to serve as, and does not constitute, tax advice. Please contact your own tax professional with any questions about your personal tax situation.
John Hancock Annuities are issued by John Hancock Life Insurance Company (U.S.A.), Lansing, MI 48906, which is not licensed in New York. In New York, John Hancock Annuities are issued by John Hancock Life Insurance Company of New York, Valhalla, NY 10595. John Hancock Variable Annuities are distributed by John Hancock Distributors LLC.