Tax Center

Individual Annuity Tax Forms

The table below identifies the tax forms you may receive for your individual annuity contract(s) with The Hartford. The actual forms you will receive depend upon the activity on your contracts during the 2016 tax year. Please allow 1-2 weeks from the mailing date for your tax forms to arrive in your mailbox.
 
How to obtain additional copies of your forms

You may obtain a copy of form 1099-R online. Just log in to your annuity account and go to Online Documents to view or print the form. For copies of any other forms, please contact us.

Need further assistance?
Contact your personal tax advisor for assistance in filling out your individual tax returns with the information on your annuity tax forms. If you have questions about the information on your annuity tax forms, you may contact us. Our service specialists will be happy to assist. View frequently asked questions below.
 

Form You will receive this form if you: Date
1099-INT Have a Safe Haven annuity account that earned interest of $10 or more during the calendar year.
 
Jan. 31
1099-R Took a distribution of $10 or more from your annuity, IRA or other tax-advantaged retirement account. Please note that the IRS requires us to issue 1099-Rs reporting 1035 exchanges even though they are non-taxable.
 
Jan. 31
1042-S Are a non-resident alien* or foreign corporation and received gross income from a Hartford Individual Annuity Contract.
 
March 15
5498 Contributed to or had any other reportable event (rollover, recharacterization, Roth conversion) on a Traditional, Roth, SEP or SIMPLE IRA.
 
May 31

 

State Tax Information for Retirement Accounts

The Hartford Individual Annuities makes every effort to obtain information about state tax laws deemed to be reliable. However, we cannot guarantee the accuracy or timeliness of state tax withholding information because state tax laws are subject to change and interpretation.

We recommend that you contact your tax advisor regarding your tax withholding elections and to answer questions that you may have regarding your state’s withholding laws.

State tax withholding is reported on form 1099-R.

This information is written in connection with the promotion or marketing of the matter(s) addressed in this material. The information cannot be used or relied upon for the purpose of avoiding IRS penalties. These materials are not intended to provide tax, accounting or legal advice. As with all matters of a tax or legal nature, you should consult your own tax or legal counsel for advice.
 

Frequently Asked Questions

Who will receive a 1099-R?
 
  • The owner of the contract, certificate or account who has received a distribution in 2016.
  • The previous owner, if a taxable ownership change occurred.
  • The beneficiary of the account if a death benefit was distributed.  In the case of more than one beneficiary, each person receiving proceeds from the account is sent a 1099-R.  (For beneficiaries who have received a safe haven account, a 1099-INT will be sent.)
Why did I receive a 1099-R from The Hartford?
 
Form 1099-R is issued when a full or partial taxable (or deemed taxable) distribution has been made from an annuity, IRA or other tax-advantaged retirement plan during the tax year.
 
Why didn't I receive a 1099-R from The Hartford?
 
There may be many reasons why you would not receive a 1099-R:
 
  • You may not have taken any taxable distributions during the calendar year.
  • Your account may be a Charitable Remainder Trust (CRT).  Tax reporting on a CRT is ultimately the responsibility of the trustee.  No tax reporting is done by The Hartford.
  • If your account is custodian-owned, tax reporting is the responsibility of the custodian.
  • Your transaction may have been for a direct transfer between IRA accounts.
  • A "right to cancel" transaction on your non-qualified account did not result in taxable earnings (total cash value less the tax cost basis).  Form 1099-R is not issued for return of tax cost basis (principal).
  • Distributions from any non-qualified contract may be non-taxable if the value drops below the cost basis.
In addition, The Hartford does not issue a 1099-R for 401(k), 401(a), 457, group 403(b), Keogh, HR-10, profit sharing or defined benefit plan types of accounts.  The plan administrator is responsible for tax reporting.
 
I did not take a liquidation or receive a check.  Why did I receive a 1099-R?
 
A 1099-R is issued for several tax-reportable events in addition to distributions, including:
 
  • Taxable ownership changes
  • Collateral assignments
  • To report on annual earnings on policies owned by non-natural owner not acting as an agent for a natural person Roth conversions and re-characterizations
The IRS currently requires The Hartford to report all financial activity regarding the initial conversion and re-characterization of Traditional IRAs, SEP IRA or SIMPLE IRA to a Roth IRA.
 
I received a Form 1099-R as a result of an annuity death benefit.  Why is this taxable?
 
The proceeds from a death benefit are taxable to the extent that the death benefit exceeds the tax cost basis.
 
Why would I receive two 1009-R forms when I was in the same state for the entire year?
 
If you turned 59½ during the year and took distributions prior to and on/after age 59½, you will be issued two 1099-R forms, each with a different distribution code in box 7 of the form. This is a requirement of the IRS.
 
Why does the 1099-R Form for my non-qualified annuity have box 2b checked as "Taxable amount not determined"?
 
One or more of the payments invested into your Hartford annuity contract resulted from a nontaxable 1035 exchange of annuity contracts. Because the financial institution that issued your original annuity contract did not provide The Hartford with tax cost basis information, we are unable to determine what portion of your distribution represents taxable income, if any.
 
Why is Box 5 filled in?
 
Box 5, "Employee Contributions, Designated Roth Contributions or Insurance Premiums," equals the nontaxable portion of the gross distributions that were issued during the tax year.
 
Why does the distribution code in box 7 of my 1099-R form show "premature"?  It should be reported as a normal distribution.
 
The distribution code will indicate "premature" if the distribution was processed before you attained age 59½.
 
Note: It is our policy to always report on the primary contract owner. If a contract has joint owners and the primary owner is over age 59½, the distribution code would be "normal."
 
What is tax cost basis?
 
The tax cost basis is the after-tax amount you put into the contract after paying income tax to the IRS (i.e., the federal withholding tax requirement has been satisfied). This amount is not taxable at the time of distribution. Earnings, on the other hand, are never considered part of the cost basis and are always taxable. If a 1035 exchange is applied, we must include the cost basis that is provided by the former carrier.
 
 
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