Form 1099-R, Retirement Income, is the information return for retirees. All account providers send out this tax form to report withdrawals for that tax year, early withdrawal penalties, and anything else that’s related to retirement income.
If you’re expecting a Form 1099-R from your account provider and haven’t received it yet, it’s best to contact the provider first. When January 31 passes, they will start incurring late-filing penalties. The 1099-R mail date is January 31 for taxpayers. So, when you don’t receive your 1099-R before January 31, they will be subject to penalties.
With the Internal Revenue Service, the 1099- filing dates are different. The mail date is different for e-filing and paper filing. For electronic filing, the date is March 31 and February 28 for paper filing. These dates are for filing with the Internal Revenue Service. However, account providers don’t just send out Forms 1099-R to the Internal Revenue Service. Instead, they file Form 1096 to transmit information about all the 1099-Rs they filed for the tax year.
Getting your Form 1099-R
Taxpayers that haven’t gotten their Form 1099-R by mail should first check the email associated with their account. There is a good chance that your account provider sent the necessary tax documents through email. Before you call your account provider, make sure to check these.
If you haven’t received it by email, the second action to take is to look for online document accessibility at your account provider’s website. Most account providers have a separate section on their websites that shares the tax documents.
When these two options don’t work for you, that’s when you have nothing to do but to contact your account provider. In the event that the tax documents you should’ve been furnished long before haven’t been filed, the chances are you’ll wait a bit longer for them. Still, you can get your 1099-R in about a week or so.