The 2023 1099-R forms will be mailed before the end of January 2024. If you do not receive your 1099-R by February 15, 2024, please contact the Fund office. Before doing so, however, please first refer to the list below of Frequently Asked Questions relating to the 1099-R mailing, which may answer your questions.
1099-R Frequently Asked Questions:
- When will I receive a Form 1099-R for filing taxes?
Forms 1099-R will be mailed before the end of January 2024.
- Why did I receive a Form 1099-R?
The Trust Fund is required by federal law to provide a Form 1099-R to anyone who received benefits during the tax year. This information is also provided to the IRS.
- Why have I not received my Form 1099-R?
The Trust Fund mails the Form 1099-R to the home address we have on file. If you recently moved or changed your address and did not inform our office of the change, you may not receive your Form 1099-R.
- How do I get another copy of my Form 1099-R?
The Trust will mail you a duplicate copy of your Form 1099-R upon your written request. You can request a copy beginning February 15th. Please submit your request in writing to the Trust Fund office P O Box 34203, Seattle WA 98124. Upon notification of your address change, a reprint of your Form 1099-R will be issued.
- Why is the amount on Box 1 of Form 1099-R different than the total amount of benefit checks I received?
The amount shown in Box 1 is the gross amount of your benefit payments before any deductions were taken, including amounts withheld from your benefit checks for federal taxes. The amount may also include any other deductions (e.g., child support payments or federal income tax levies) from your pension payments during the year. These deductions are not reported on the Form 1099-R.
- Why did I receive more than one Form 1099-R?
The Trust Fund must report different types of benefit payments on different Forms 1099-R. If you received more than one type of benefit payment, the Trust Fund must print a separate Form 1099-R for each benefit type. The distribution code on Box 7 of your Form 1099-R identifies the type of benefit payment you received. For example, you may have received multiple Forms 1099-R if you:
- Received your own Trust Fund retirement or disability benefit and also a survivor or beneficiary benefit with respect to a former Trust Fund plan participant.
- Received a disability benefit at the beginning of the year and then switched to a retirement benefit later in the year.
- Received a survivor benefit from a former Trust Fund plan participant and rolled over a portion of the benefit payment into an IRA.
- Received a Survivor Benefit annuity as well as a lump sum death benefit with respect to a former Trust Fund plan participant.
- What do the different Distribution Codes mean (Box 7)?
Distribution Code 2—You received retirement benefit payments before the age of 59½.
Distribution Code 3—You received disability benefit payments.
Distribution Code 4—You received a survivor benefit from a former Trust Fund plan participant.
Distribution Code 4A—You received a lump sum death benefit from a former Trust Fund plan participant.
Distribution Code 4G—You received a survivor benefit from a former Trust Fund plan participant and rolled over a portion or all of the distribution into an IRA.
Distribution Code 7—You received retirement benefit payments after the age of 59½.
- What is the Percentage of Total Distribution (Box 9a)?
If a beneficiary benefit was paid to more than one beneficiary, the percentage you received is shown in Box 9a. This amount represents the percentage of the beneficiary benefit you received of a former Trust Fund plan participant.
- What do I do if I receive a corrected Form 1099-R?
You may be required to re-file your income tax returns for prior tax years if you used the original Form 1099-R from the Trust Fund. The IRS generally allows taxpayers to file amended tax returns for up to three years after the original due date of the return.
- If my address is incorrect on my Form 1099-R can I get a corrected form?
No. An incorrect address does not require a corrected Form 1099-R. However, if you would like to make an address change, please download the from the Trust website and either mail, email or fax it to our office.
- I believe the amounts reported on my Trust Fund issued Form 1099-R are incorrect. What should I do?
Please contact the Trust Fund by mail at Trust Fund, Retirement Department, P O Box 34203, Seattle WA 98124. Be sure to include your daytime telephone number, a copy of your Form 1099-R, and the reason you believe the amounts reported are incorrect.
We will review your Form 1099-R and, if necessary, issue a corrected Form 1099-R. If we determine that the original form was correct, we will contact you and provide an explanation.
- Does the Trust Fund provide tax advice, such as the amount of taxes to withhold from my monthly benefit?
No. You should seek advice from a professional tax advisor or the IRS for specific information on any tax-related issues. You can reach the IRS by calling 1-800-829-1040 or by going online to www.irs.gov .
- How do I change my federal tax withholding?
You may change your federal tax withholding election as often as you like, provided you do so in writing by completing a new tax withholding form that is available on the Trust website. Your election will stay in effect until you change it or revoke it.
- Does the Trust Fund withhold state or local taxes?
No. The Trust Fund is not required to withhold state or local taxes. If your state or local tax authority requires that you pay taxes on your Trust Fund benefits, you may need to make payments to them directly. If you have questions regarding state or local taxes, please contact your state or local tax authorities.
- Is the Trust Fund a qualified retirement plan?
Yes. The Fund provides retirement and related benefits for eligible employees of contributing employers. It is therefore a qualified retirement plan as defined in Section 401(a) of the Internal Revenue Tax Code.