Will I receive a tax form for a surrendered annuity account if the check shows taxes were withheld? The account had a $507 balance and surrendered after age 59.5.
A confirmation notice came with the check when I closed out the annuity. It showed the amount of federal and state taxes withheld from the payment. Should I receive a tax form from the company?
021651
2 Replies
dmertz
Level 15
Jun 6, 2019 7:32:00 AM
If taxes were withheld, the annuity company is required to send you a Form 1099-R reporting the distribution and tax withholding. The company has until January 31 to send you the Form 1099-R.
anthonett4365
New Member
Jun 6, 2019 7:32:02 AM
Yes partly, do I have to report this lump sum amount, since the Finance Company has taken out withholding and surrender charges at the time of Payout